Tax-Exempt Developers' 2022 Audited Financial Statements
Dear New Brunswick City,
Under OPRA and the common law right of access, please provide a copy of the most recent audited financial statement received from each urban renewal entity with an active long-term tax exemption in the City of New Brunswick.
Thank you kindly.
Yours faithfully,
Charlie Kratovil
Dear Mr. Kratovil,
Please see the attached documents responsive to your OPRA request. Thank
you.
Best Regards,
Shalon T. Bennett
Deputy Clerk
City of New Brunswick
City Clerk’s Office Rm 201
78 Bayard Street
New Brunswick, NJ 08901
(732) 745-5041 (phone)
(732) 745-5009 (fax)
Dear New Brunswick City,
Thank you for the response, which I received from Ms. Bennett. Will you be producing additional records? I'll note there are several long-term tax-exempt projects for which no audited financial statement has been provided:
1) Liberty Plaza (335 George St)
2) The Quincy (120 Neilson St)
3) The Standard (90 New St)
4) Walgreens Plaza (20 Jersey Ave)
5) The Heldrich (10 Livingston Ave)
6) NBPAC (11 Livingston Ave)
7) New Brunswick Apartments (33 Paul Robeson Blvd)
I'm also curious why none of the city's tax-exempt condominium projects (Fulton Square, Comstock Court, Renaissance Station) are accounted for. Do the HOA's of these communities have an obligation under the law to submit audited financials?
Please provide financial statements for each of the above listed projects. If no statement has been received for the 2021-22 fiscal year, please provide the prior year's statement, as per my original request for "the most recent audited financial statement received" from each entity. Thank you kindly.
Yours faithfully,
Charlie Kratovil
Dear Mr. Kratovil,
Please see the attached documents and the email below responsive to your
follow up OPRA request from our Finance Department. Thank you.
Best Regards,
Shalon T. Bennett
Deputy Clerk
City of New Brunswick
City Clerk’s Office Rm 201
78 Bayard Street
New Brunswick, NJ 08901
(732) 745-5041 (phone)
(732) 745-5009 (fax)
From: Richard Mulrine <[email address]>
Sent: Monday, August 29, 2022 9:48 AM
To: 'Shalon Bennett' <[email address]>
Subject: OPRA 22.08_599
Hey Shalon,
Per your request – see attached financial statements for requestor’s
number 2, 3, 4 and 6.
Please advise requestor that 1, 5, and 7 do not fall under the Long Term
Tax Exemption guidelines, and as such are not required to provide annual
audits. The same goes for Fulton Square, Comstock Court, and Renaissance
Station.
Thanks.
Rich
Richard J. Mulrine, CMFO/CTC
Director of Finance/Chief Financial Officer
City of New Brunswick
78 Bayard Street
New Brunswick, NJ 08901
Ph: 732-745-5045
Fax: 732-246-7806
Dear New Brunswick City Clerk's Office,
Thanks for the supplemental response to my request for audited financial statements from the numerous corporations in the city benefitting from long-term tax exemptions. I still believe that the request has not been completely fulfilled. For example, the most recent response includes audited financials for "Matrix Upper Lot Urban Renewal LLC" but that's only half of the project in question. As you may remember, the City Council granted long-term tax exemptions to both the parking garage and the apartment building. What about MATRIX NEW STREET GARAGE URBAN RENEWAL, LLC? Is that exemption still active?
I also do not understand why the Liberty Plaza project does not "fall under the Long Term Tax Exemption guidelines" - Please see the city's user-friendly budget for 2022 which lists "LIBERTY PLAZA - GEORGE STREET" on the list of Long-Term Tax Exemptions. Please explain what guidelines Mr. Mulrine is referring to.
Yours faithfully,
Charlie Kratovil
I am currently out of the office. Please call (732) 745-5041 or email my Deputy Clerk, Shalon T. Bennett at [email address] for assistance. Thank you.
City Clerk,
Leslie R. Zeledón
Dear Mr. Kratovil,
Following a review of your follow-up communication of August 22, 2022, regarding OPRA 22.08_599, it was discovered that the attached document was inadvertently excluded from our initial response. Be advised that not every project listed by you is or was required by law to submit an audited financial statement. You are now in receipt of all responsive documents. If you have not received an audited financial statement for other properties on your list it is because they were not required and therefore there are no other documents responsive to your request.
Best Regards,
Shalon T. Bennett
Deputy Clerk
City of New Brunswick
City Clerk’s Office Rm 201
78 Bayard Street
New Brunswick, NJ 08901
(732) 745-5041 (phone)
(732) 745-5009 (fax)