[CPEO-BIF] American Cyanimide / Cytec Industries, Carteret, New Jersey

[Lenny Siegel <LSiegel@cpeo.org>]

Mayor Reiman Joins Crow Holdings to Break Ground on 1.2 Million Square Feet of Commercial Development

New Jersey Stage
June 18, 2022

(CARTERET, NJ) -- Mayor Daniel J. Reiman joined executives from Crow Holdings Development, including Clark Machemer, Senior Managing Director for the Northeast Region, to officially break ground at the company’s 126-acre logistics center for construction of three buildings totaling 1.2-million-square-feet of new commercial / industrial flex space.

“This development will contribute $135 million in taxes to Carteret over the next 30 years. That’s real money for our Community to help with tax stabilization and its one of the reasons why we have gone form the 3rd highest taxed towns in our region to one of the lowest,” said Mayor Dan Reiman. “Crow Holdings has contributed $250,000 to The Carteret Performing Arts and Event Center, and $350,000 towards public access improvements for Carteret’s northern riverwalk.”

…

“This long abandoned brownfield that was ravaged by American Cyanimide / Cytec Industries was a ticking time bomb,” said Mayor Reiman. “The engineered cap protects the environment, remediates brownfields and has now led to today’s groundbreaking. In addition to the future tax revenue, the Borough also received a $3.25 million host community fee from Soil Safe during the capping phase and a $6.5 million redevelopment impact fee during the construction phase.”

…

For the entire article, see
https://www.newjerseystage.com/articles2/2022/06/18/mayor-reiman-joins-crow-holdings-to-break-ground-on-12-million-square-feet-of-commercial-development/

—

Lenny Siegel
Executive Director
Center for Public Environmental Oversight
A project of the Pacific Studies Center
LSiegel@cpeo.org
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650-961-8918
http://www.cpeo.org
Author: DISTURBING THE WAR: The Inside Story of the Movement to Get Stanford University out of Southeast Asia - 1965–1975 (See http://a3mreunion.org)

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