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Construction of a $15-million logistics center in East Windsor is expected to start in August after town officials on Thursday approved a tax abatement for the New Jersey developers spearheading the project.
The town’s board of selectmen in a virtual meeting Thursday unanimously approved a five-year abatement of property taxes that will save The Silverman Group, of Basking Ridge, N.J., hundreds of thousands of dollars for its planned development of two industrial buildings totaling 246,240 square feet at 12 South Main St. (Route 5).
In an interview Friday, First Selectman Jason Bowsza said the deal provides an abatement of real estate property taxes that starts at 40% in the first year and climbs to 90% in year five. The abatement guarantees The Silverman Group will make a minimum investment of $15 million in the two-building complex.
The total estimated tax benefit for The Silverman Group will depend on what the property is valued at in an upcoming revaluation of real estate property, which is completed every five years.
“We don’t know what the appraised value of the property will be,” Bowsza said. “It’s a substantial development and it’s something the town is interested in doing to attract businesses to the community.”
As reported Thursday, The Silverman Group plans to market the so-called East Windsor Logistics Center to "local and large businesses." Construction of the 22-acre development is expected to last from August to spring 2021.
The industrial facilities will feature 95 dock doors, 32-foot ceiling heights, eight drive-in doors, auto and trailer parking areas and trailer storage for tenants.
The Silverman Group acquired the property, which is split into four parcels, for $2.3 million in February, land records show.
Construction will begin more than a year after Hartford food distributor Sardilli Produce & Dairy Co. Inc. was eyeing the vacant property to build a sprawling 202,400-square-foot distribution facility for produce manufacturing, warehouse storage and office space.
East Windsor’s selectmen board also approved a tax abatement for that project, but it was later scrapped when Sardilli ended up relocating to Windsor instead.
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