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09.30.24

Hoboken Schools to Receive $500K in PILOT Payout

After years of negotiations, Hoboken's schools are set to receive their first-ever funding from PILOT agreements.

MS&B’s W. Connor Kimmel played a key role in helping the city establish a framework that will direct $500K annually from two major developments—7 Seventy House and Hoboken Connect—straight to public and charter schools.

We helped structure the deal, determining which projects would contribute and ensuring a 2% annual fund increase over the course of the PILOT.

This is a significant achievement for Hoboken’s education system, paving the way for even more growth in the future!