The phrase "Danger, Will Robinson," from the 1960'S TV series "Lost in Space," is used to warn about a potentially dangerous situation.
The potential acquisition of the building was brought home by a graphic over the article featuring a picture of the 150 Clove Road building (the green roof building) with the image of the MSU mascot - The Red Hawk - planting an MSU flag on the roof of the building.
The owner of the 150 Clove Road building, Theta Holding, is the second largest municipal property taxpayer in Little Falls. Their 2016 municipal property tax bill totals $1,562,217.
If MSU was to acquire the building this tax revenue would be lost because as a public entity MSU is tax exempt. It doesn't have to pay the property's municipal property tax bill.
Simply put, the "assimilation" of the 150 Clove Road building by MSU would have grave implications for the financial well-being of Little Falls. It would result in the loss of $403,248 to the township; $415,241 to Passaic County; $725,347 to the two Little Falls school districts; and $18,380 to the Little Falls Public Library.
In other words, the town, the county, the school districts and the Public Library would need to replace $1,562,217 in lost tax revenue.
Images still linger of the lost $294,000 in municipal tax revenue when MSU purchased the Ward Trucking site in 2011.
While the acquisition of the 150 Clove Road building by MSU may not be imminent, our elected officials need to develop an aggressive strategy to address this potential danger!
Well, a front page article in
the September 8th edition of the Montclair State University (MSU)
student newspaper - The Montclarion - sends an ominous message to Little
Falls.
The article entitled "Susan Cole Talks Expansion and Politics
in Opening Address" cites Dr. Cole's comments in reference to the 150 Clove Road building as
follows: "..."often identified as the big one with the green
roof." She went on to joke that it soon might be assimilated into our
"aggressively red-roofed society"....."
The potential acquisition of the building was brought home by a graphic over the article featuring a picture of the 150 Clove Road building (the green roof building) with the image of the MSU mascot - The Red Hawk - planting an MSU flag on the roof of the building.
The owner of the 150 Clove Road building, Theta Holding, is the second largest municipal property taxpayer in Little Falls. Their 2016 municipal property tax bill totals $1,562,217.
If MSU was to acquire the building this tax revenue would be lost because as a public entity MSU is tax exempt. It doesn't have to pay the property's municipal property tax bill.
Simply put, the "assimilation" of the 150 Clove Road building by MSU would have grave implications for the financial well-being of Little Falls. It would result in the loss of $403,248 to the township; $415,241 to Passaic County; $725,347 to the two Little Falls school districts; and $18,380 to the Little Falls Public Library.
In other words, the town, the county, the school districts and the Public Library would need to replace $1,562,217 in lost tax revenue.
Images still linger of the lost $294,000 in municipal tax revenue when MSU purchased the Ward Trucking site in 2011.
While the acquisition of the 150 Clove Road building by MSU may not be imminent, our elected officials need to develop an aggressive strategy to address this potential danger!
The loss of the building would be disastrous for Little Falls.
ReplyDeleteHow would Little Falls candidates running for office stop this from happening?
This sounds like taxes will skyrocket in LF .. how can this be stopped ? Our leaders are too busy with sports & parades & not dealing with huge financial issues .
DeleteArnie, Our politicians in Little Falls will not do anything about it because they are too stupid, too lazy, they do not care and they are not accountable. They'll simple increase the taxes and blame the previous administration.
ReplyDeletein many circumstances officials cannot stop a private land transaction-I'm sure it has a hefty price(the building)-the Real Estate-property owner has the right to sell to whomever pays the asking price-it isn't corruption, or lazyness but law of real property..
ReplyDeleteIf this happens will there still be a town for the next generation of Little Falls residents?
ReplyDeleteStop the madness now!
The Mayor and council must stop this or else Little Falls could become a ghost town.
ReplyDeleteThe reality of this happening to Little Falls is frightening.
ReplyDeleteWith the coming November 8th election for Little Falls Mayor and two Council seats each party's candidates should spell out their thoughts about how to stop the MSU purchase of the green roofed building.
Just say NO!!! And then, make an ordinance based on grievous financial hardship and irreplaceable revenue loss.
ReplyDelete