Negotiated a five-year Community Service Contribution Agreement with a New Jersey city on behalf of a hospital’s numerous properties. The city had removed the tax exemption on 37 hospital properties within the city and placed each on the taxable assessment rolls for the 2016 through and including 2020 tax years. The total taxes due on the properties totaled more than $20 million, but the Community Service Contribution Agreement limited the total payment by the hospital to $6 million, payable over a five-year period. In addition, the city owed the hospital a refund of overdue sewer and water charges totaling $1.8 million, which the city is now crediting back to the hospital against sewer and water charges due on its hospital property for the next five years. The total savings to our client is more than $15 million, including the refund of overpaid sewer and water charges.
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