Jones Lang LaSalle
Jets move will enhance tax coffers
04/07/2006
FLORHAM PARK – The New York Jets’ move to the borough is expected to generate many local jobs and more than $10 million annually in new tax revenue for the state, according to team officials.
Official word that the National Football League franchise would relocate its headquarters and practice facility from Long Island to the former Exxon headquarters off Park Avenue in Florham Park came last Friday.
As part of the historic agreement, the Jets and the New Jersey Sports and Exposition Authority (NJSEA) also will dedicate an annual $50,000 fund to improve recreational fields in Florham Park.
Mayor Frank D. Tinari said the Jets hope to move into the new facilities by summer of 2007. Tinari added that the team is planning a town-wide party for Florham Park next month to celebrate its new home.
The selection of Florham Park concludes a six-month search in which more than 40 sites were considered as the Jets’ potential new home. Two months ago, the Jets identified a short list of five potential sites, which included Berkeley Heights, Florham Park, Jersey City, Millburn Township and Wood-Ridge.
As the new home of the Jets, the practice facility will house all football operations and most corporate functions, including an 110,000-square-foot building housing 100 employees, three outdoor football fields, and one indoor football field.
‘Best Fits Our Needs’
"We have been heartened by the interest of so many towns throughout New Jersey to welcome us into their communities as their neighbors," said Jets President Jay Cross. "After conducting a comprehensive search, we have concluded that the Florham Park site best fits our needs as an organization.
"We are excited about calling Florham Park our new home, and I want to thank Mayor Frank D. Tinari, Council President Joseph Morano, the Gale Company, the Rockefeller Group Development Corporation and the Florham Park community for already making us feel so welcome," Cross added.
Tinari told Borough Council members at a special meeting on unrelated recreation issues at Borough Hall in the Florham Park municipal complex Thursday, March 30, the sports authority had agreed to pay $20 million for the 20-acre site for the Jets facility. He said the team indicated it would purchase an additional 20 to 30 acres of adjacent land to augment that.
The Gale Company of Florham Park and the Rockefeller Group Development Corporation of New York City jointly hold a contract with the ExxonMobil Corporation to purchase and develop the tract, which until the oil firms’ 2000 merger was the home of Exxon’s research and development facility and its international operations headquarters.
‘Hard Work’ Noted
"I also want to acknowledge the hard work of the other four cities which were finalists in our search - Berkeley Heights, Jersey City, Millburn and Wood-Ridge," the Jets president said. "Each of these towns put so much effort, passion and energy into their bids. We would have been proud to call any of them our home and we look forward to becoming active and engaged New Jersey citizens," Cross said.
"On behalf of the citizens of our fine borough, I am gratified and excited that Florham Park will become the future home of the New York Jets Training Facility," said Florham Park Mayor Tinari. "After an exhaustive search process, our community was selected by the Jets and the New Jersey Sports and Exposition Authority.
"They will not be disappointed by their decision," the mayor promised. "Florham Park has witnessed extensive changes in recent years. The Jets training facility is yet another positive part of this process, one that we heartily welcome."
The mayor told council members at the March 30 work meeting that the NJSEA had agreed to pay Florham Park $150,000 per year in lieu of taxes and $50,000 annually specifically for recreation, with both amounts adjustable for inflation. The facility will be immune from property taxes since it is being purchased by the Sports Authority, part of the state government.
Council President Morano also expressed his excitement at the team’s decision.
"As a longtime Jets fan and season ticket holder, I am very excited about the Jets coming to Florham Park," Morano said. "As a little kid wearing my Joe Namath jersey, I could never have imagined that I would someday get to be a part of bringing my favorite team into my hometown," he noted.
"The Jets history and track record of community involvement and support is outstanding and will benefit the citizens and youth of the Borough of Florham Park, as well as the entire Morris County area," Morano said.
In The Community
In addition to the new state and local tax revenues generated by the practice facility, the Jets are committed to community involvement, Cross noted. Beyond partnering with the NJSEA to dedicate an annual fund of $50,000 to improve recreational fields in Florham Park, the Jets will continue to support numerous civic charities as well as established Jets initiatives to fight hunger and improve education and fitness for children throughout the tri-state area. The Jets also support local football teams with coaching and children’s clinics, local "Coach of the Week" awards and free community access to their training camp during the summer months.
"We are thrilled that the Jets are relocating their training facilities from Long Island to New Jersey," said Carl Goldberg, chairman of the NJSEA. "Not only will New Jersey gain a corporation committed to community involvement, but our state will reap significant economic benefits from the tax revenues generated by the practice and training facilities.
"Over the past six months, the Jets have thoroughly evaluated more than 40 potential sites for their training facility. We are excited that they have finally chosen a home in the community of Florham Park," Goldberg said.
"We’d like to first congratulate the State, the Sports Authority, the Jets and the other municipalities considered for managing and conducting an extremely professional and fair selection process over these past few months," Jonathan D. Green, President and CEO of The Rockefeller Group, and Stan Gale, Chairman and Chief Executive of the Gale Company, declared in a joint statement.
"Obviously we are delighted and honored to have our site selected by the Jets, a team and franchise clearly on the rise," the two stated. "The Jets are all about commitment and performance excellence and that attitude is shared by everyone on our development team as well as in the Borough of Florham Park. We look forward to a long and immensely successful partnership."
Six months ago, the New York Jets exclusively retained Cohn Real Estate LLP to conduct a comprehensive site search in northern New Jersey. Over the past few months, the New York Jets and Cohn Real Estate have visited more than 40 sites in Bergen, Hudson, Essex, Morris, Union, Passaic, Somerset, Middlesex and Monmouth counties to find a location which best meets the unusual needs of the football team.
The sites were evaluated on the following criteria:
• At least 20 acres available with minimal impediments to development;
• Located within a 20 mile radius of the Meadowlands and Newark Airport, yet accessible to Manhattan; and
• Proximity to a diversity of housing stock, hotel accommodations, and appropriate medical facilities.
The Jets had agreed to relocate their practice facility from Long Island to New Jersey as part of an historic agreement to build a new joint stadium with the Giants in the Meadowlands. As part of that agreement, the NJSEA agreed to acquire 20 acres for each team to build new training complexes in New Jersey. While the Giants new training facility will remain on the Meadowlands complex, the Jets training facility will be relocated outside the complex in Florham Park.
Also Friday, March 31, Gov. Jon Corzine disclosed approval of an agreement between the Jets, the Giants, their team owners, and the NJSEA related to the development of a new stadium at the Meadowlands Sports Complex.
Jets move will enhance tax coffers
04/07/2006
FLORHAM PARK – The New York Jets’ move to the borough is expected to generate many local jobs and more than $10 million annually in new tax revenue for the state, according to team officials.
Official word that the National Football League franchise would relocate its headquarters and practice facility from Long Island to the former Exxon headquarters off Park Avenue in Florham Park came last Friday.
As part of the historic agreement, the Jets and the New Jersey Sports and Exposition Authority (NJSEA) also will dedicate an annual $50,000 fund to improve recreational fields in Florham Park.
Mayor Frank D. Tinari said the Jets hope to move into the new facilities by summer of 2007. Tinari added that the team is planning a town-wide party for Florham Park next month to celebrate its new home.
The selection of Florham Park concludes a six-month search in which more than 40 sites were considered as the Jets’ potential new home. Two months ago, the Jets identified a short list of five potential sites, which included Berkeley Heights, Florham Park, Jersey City, Millburn Township and Wood-Ridge.
As the new home of the Jets, the practice facility will house all football operations and most corporate functions, including an 110,000-square-foot building housing 100 employees, three outdoor football fields, and one indoor football field.
‘Best Fits Our Needs’
"We have been heartened by the interest of so many towns throughout New Jersey to welcome us into their communities as their neighbors," said Jets President Jay Cross. "After conducting a comprehensive search, we have concluded that the Florham Park site best fits our needs as an organization.
"We are excited about calling Florham Park our new home, and I want to thank Mayor Frank D. Tinari, Council President Joseph Morano, the Gale Company, the Rockefeller Group Development Corporation and the Florham Park community for already making us feel so welcome," Cross added.
Tinari told Borough Council members at a special meeting on unrelated recreation issues at Borough Hall in the Florham Park municipal complex Thursday, March 30, the sports authority had agreed to pay $20 million for the 20-acre site for the Jets facility. He said the team indicated it would purchase an additional 20 to 30 acres of adjacent land to augment that.
The Gale Company of Florham Park and the Rockefeller Group Development Corporation of New York City jointly hold a contract with the ExxonMobil Corporation to purchase and develop the tract, which until the oil firms’ 2000 merger was the home of Exxon’s research and development facility and its international operations headquarters.
‘Hard Work’ Noted
"I also want to acknowledge the hard work of the other four cities which were finalists in our search - Berkeley Heights, Jersey City, Millburn and Wood-Ridge," the Jets president said. "Each of these towns put so much effort, passion and energy into their bids. We would have been proud to call any of them our home and we look forward to becoming active and engaged New Jersey citizens," Cross said.
"On behalf of the citizens of our fine borough, I am gratified and excited that Florham Park will become the future home of the New York Jets Training Facility," said Florham Park Mayor Tinari. "After an exhaustive search process, our community was selected by the Jets and the New Jersey Sports and Exposition Authority.
"They will not be disappointed by their decision," the mayor promised. "Florham Park has witnessed extensive changes in recent years. The Jets training facility is yet another positive part of this process, one that we heartily welcome."
The mayor told council members at the March 30 work meeting that the NJSEA had agreed to pay Florham Park $150,000 per year in lieu of taxes and $50,000 annually specifically for recreation, with both amounts adjustable for inflation. The facility will be immune from property taxes since it is being purchased by the Sports Authority, part of the state government.
Council President Morano also expressed his excitement at the team’s decision.
"As a longtime Jets fan and season ticket holder, I am very excited about the Jets coming to Florham Park," Morano said. "As a little kid wearing my Joe Namath jersey, I could never have imagined that I would someday get to be a part of bringing my favorite team into my hometown," he noted.
"The Jets history and track record of community involvement and support is outstanding and will benefit the citizens and youth of the Borough of Florham Park, as well as the entire Morris County area," Morano said.
In The Community
In addition to the new state and local tax revenues generated by the practice facility, the Jets are committed to community involvement, Cross noted. Beyond partnering with the NJSEA to dedicate an annual fund of $50,000 to improve recreational fields in Florham Park, the Jets will continue to support numerous civic charities as well as established Jets initiatives to fight hunger and improve education and fitness for children throughout the tri-state area. The Jets also support local football teams with coaching and children’s clinics, local "Coach of the Week" awards and free community access to their training camp during the summer months.
"We are thrilled that the Jets are relocating their training facilities from Long Island to New Jersey," said Carl Goldberg, chairman of the NJSEA. "Not only will New Jersey gain a corporation committed to community involvement, but our state will reap significant economic benefits from the tax revenues generated by the practice and training facilities.
"Over the past six months, the Jets have thoroughly evaluated more than 40 potential sites for their training facility. We are excited that they have finally chosen a home in the community of Florham Park," Goldberg said.
"We’d like to first congratulate the State, the Sports Authority, the Jets and the other municipalities considered for managing and conducting an extremely professional and fair selection process over these past few months," Jonathan D. Green, President and CEO of The Rockefeller Group, and Stan Gale, Chairman and Chief Executive of the Gale Company, declared in a joint statement.
"Obviously we are delighted and honored to have our site selected by the Jets, a team and franchise clearly on the rise," the two stated. "The Jets are all about commitment and performance excellence and that attitude is shared by everyone on our development team as well as in the Borough of Florham Park. We look forward to a long and immensely successful partnership."
Six months ago, the New York Jets exclusively retained Cohn Real Estate LLP to conduct a comprehensive site search in northern New Jersey. Over the past few months, the New York Jets and Cohn Real Estate have visited more than 40 sites in Bergen, Hudson, Essex, Morris, Union, Passaic, Somerset, Middlesex and Monmouth counties to find a location which best meets the unusual needs of the football team.
The sites were evaluated on the following criteria:
• At least 20 acres available with minimal impediments to development;
• Located within a 20 mile radius of the Meadowlands and Newark Airport, yet accessible to Manhattan; and
• Proximity to a diversity of housing stock, hotel accommodations, and appropriate medical facilities.
The Jets had agreed to relocate their practice facility from Long Island to New Jersey as part of an historic agreement to build a new joint stadium with the Giants in the Meadowlands. As part of that agreement, the NJSEA agreed to acquire 20 acres for each team to build new training complexes in New Jersey. While the Giants new training facility will remain on the Meadowlands complex, the Jets training facility will be relocated outside the complex in Florham Park.
Also Friday, March 31, Gov. Jon Corzine disclosed approval of an agreement between the Jets, the Giants, their team owners, and the NJSEA related to the development of a new stadium at the Meadowlands Sports Complex.
posted by Jones Lang LaSalle NJ News Blog at 1:32 PM
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