In Fort Lee, New Jersey–a municipality with one of the greatest concentrations of co-ops and condominiums in the state–a co-op wants to convert its building to a condominium in order to boost property values and remove restrictions on shareholders. The co-op board wants the town to phase in the higher assessments over 20 years to avoid an immediate spike in property taxes.
Archive for the ‘Education’ Category
Raining money in Newark
04
Oct
On Oprah’s national television show Mark Zuckerberg, co-founder of Facebook, accompanied by Governor Christie and Newark mayor Corey Booker, announced he will make a $100 million gift to the Newark school system spread over five years. Zuckerberg’s gift is in the form of a “challenge grant.” Newark has to raise an additional $100 million over five years, bringing the total philanthropic bounty to $200 million.