TRENTON, NJ-Gov. Chris Christie has vetoed a measure that would have aided municipalities with short-term property tax relief when a major corporation moves out.
The bill was designed for a situation like the one Clifton and Nutley face as Roche closes down century-old operations at a campus that spans the two towns' borders.
The act would have set aside $13.5 million to aid communities with short-term support to get them through a transition without extraordinary boosts in the tax burden on taxpayers. Assemblyman Ralph Caputo of Belleville, one of the bill's sponsors, said he was disappointed by the governor's rejection.
"Obviously, he is very strong on keeping taxes down,” Caputo said about Christie. “This was the perfect opportunity to explore that."
Caputo, a Democrat, said he will try again with the bill and work to bring both parties to a resolution. “It doesn't end here." he said. "The issue is now out there, and I think [the act] represents people from both sides.”
Both Nutley and Clifton officials had favored the measure as one way to help effect orderly transition when Roche closes down completely by the end of this year and puts the property on the market. Roche announced the move in June of 2012.
Developers are known to be looking at the site, which runs parallel to Route 3 for mixed-use projects.
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