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Bayview Court developer may get $1.5 million - Ocean City Sentinel: Local News

Bayview Court developer may get $1.5 million

Somers Point also offering tax abatement for 15 years

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Posted: Wednesday, March 16, 2016 9:51 am

SOMERS POINT — City Council voted unanimously to introduce an ordinance Thursday, March 10, that would provide $1,579,995 to the company redeveloping the Bayview Court apartment complex on Shore Road and freeze its tax payments at the 2015 level.

The ordinance states that the city believes a long-term tax exemption and the grant are “necessary in order to enhance the economic viability and ensure the successful completion of the project … and therefore is in the best interest of the city and the health, safety, morals and welfare of its residents.”

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