A.B. wanted to develop a 142-unit, 6 story multi-family building in the heart of Orange, NJ. With its great amenities and attractive units, the building was set to be a valuable addition to the gentrifying neighborhood.

He knew his development was eligible for a tax abatement, and that he’d need a clear and accurate financial underwriting model (PILOT) to attain one.

A PILOT model that:

• shows the city board members everything they’ll want to see (which requires experience!)
• is fully accurate
• makes the project profitable for A.B, and desirable for the city board

And to get it all right on the first try.

— We created the model.

We’ve worked with different municipalities and knew the ins and outs of getting tax abatements from each township.

So when A.B reached out, we were ready to roll! 


Here’s how it worked:

• We crunched the numbers.
• We calculated the projected annual service charges, phase ins, step ups - just to name a few.
• And knocked together a model that worked financially for the client.

We helped him understand his different options of what kinds of abatements he could get and which one was the best option for him. We helped him analyze and compare between affordable and non-affordable options for his development.

We created the perfect model that the client was happy with and that the city would be impressed with.

— A 22 year tax abatement.

Using the model we created, the client went in front of the Orange Township board and was able to get a 22-year tax abatement at 10% throughout with no bump ups and a $500k one time community benefit payment.

All in all — Model + Guidance + Abatement