Bloomingdale Working to Get Revenue from AvalonBay

Bloomingdale is trying to get revenue from the new AvalonBay complex as fast as possible. 

Building inspector Michael Tabback will go from working three days a week to five until February, NorthJersey.com reported. The move is expected to make the permit process for AvalonBay proceed quicker.

The faster permits are granted for the 174-unit apartment and townhouse complex, the faster the borough can begin collecting revenue.  

The township and AvalonBay are in a PILOT program for the next 30 years, which goes into effect in March, nine months after the first certificate of occupancy was issued.

The program grants the borough payments from AvalonBay over the next 30 years in lieu of taxes. Bloomingdale would receive $550,000 annually with an increase of 2 percent a year.