The Toms River Township Council has introduced an ordinance that would extend the payment-in-lieu-of-taxes arrangement and deed controls for Highland Plaza, a 110-unit low-income senior housing development on Block 537, Lots 23, 106 and 107.
According to the township legal notice, the ordinance was introduced and passed on first reading at the council’s June 10, 2026 meeting. The notice says final passage is scheduled to be considered at a July 8, 2026 public meeting at 6:30 p.m. in the L. Manuel Hirshblond Meeting Room at the municipal building.
What the ordinance would do
The ordinance would approve a second amendment to the township’s tax-abatement agreement for Highland Plaza. The ordinance text says the property currently receives a long-term tax exemption and remits an annual service charge instead of conventional property taxes.
In plain language, this is a PILOT: a payment in lieu of taxes. Instead of ordinary property taxes, the property pays a negotiated annual charge under a tax-abatement agreement. The New Jersey Division of Local Government Services describes annual service charges, or PILOTs, as payments that help cover municipal services.
According to the ordinance, the existing agreement runs through December 1, 2034. The proposed amendment would extend the long-term tax exemption for another 30 years, beginning December 1, 2034 and ending December 1, 2064.
The ordinance says the annual service charge during that extended period would equal 5% of Annual Gross Revenues.
The ordinance also says the township would pay $1,320,000 from its Affordable Housing Trust Fund over 10 years. The payments would be made in annual installments of $132,000, according to the ordinance text.
What has and has not happened
The council has not taken final action based on the reviewed records. The legal notice says the ordinance was introduced on first reading June 10 and will be considered for final passage July 8.
That distinction matters: unless final passage occurs, the ordinance is a proposal before the council, not a finally adopted local law.
What to watch
The key questions for the July 8 hearing are whether the council approves the 30-year extension, whether the final ordinance keeps the same financial terms, and whether any public comments or council discussion add context about the Affordable Housing Trust Fund payment.
If final passage occurs, the next documents to look for are the adopted ordinance, the executed PILOT amendment, the memorandum of agreement referenced in the ordinance, and the payment schedule for the Affordable Housing Trust Fund installments.
This article is based on the ordinance text and legal notice posted by Toms River Township. It should be reviewed again after the July 8, 2026 hearing or after final-passage documents are posted.