The inequitable sharing, Pfeiffer said, has a long history that favors municipal governments. This is because when initially established by the legislature, PILOTs were only available to Urban Aid municipalities, which would typically correspond with the list of then Abbott districts, where the state covered greater portions of school costs.
Topic
municipal budget
Can communities finance their own projects?
“Theoretically, it’s a nice idea, but there is some risk,” said Professor Thomas Davis of the Bloustein School of Planning and Public Policy at Rutgers University. Davis has experience dealing with mini-bonds, but it’s not been positive. Mini-bonds played a...