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While
the South side and eastern point of The Peninsula are
attractive locations for housing, office and retail
development, the North side has a strong industrial
character. The district abuts the Port Jersey Channel,
which serves containerized, and ro-ro cargo in addition
to cruise ships.
At a
special meeting on November 26, the BLRA voted
unanimously to sell to Ports America for $90 million a
portion of the Maritime District on The Peninsula at
Bayonne Harbor. Under terms of the deal Ports America
will pay approximately $1.8 million in annual taxes. The
property will continue in perpetuity to be taxed at the
same rate as other properties in Bayonne. The deal also
calls for Ports America to invest make $15.2 million in
capital improvements to the site. Ports America will
build a roll-on roll-off marine terminal operation that
will complement the visionary redevelopment plan adopted
by the City Council. |