Office of the Mayor – West Windsor Township
December 2, 2009
FOR IMMEDIATE RELEASE
Contacts: Shing-Fu Hsueh, Mayor
West Windsor Township
WEST WINDSOR RECEIVES $51,900 FROM PRINCETON UNIVERSITY
Mayor Hsueh is pleased to announce that West Windsor Township received $51,900 for the 2009 year as part of the formal PILOT (Payment In Lieu Of Taxes) agreement that Princeton University made with the township earlier this year.
The agreement provides that Princeton University will voluntarily make an annual payment of $50,000 to West Windsor in lieu of taxes for land the school owns in the township. The added $1,900 is an adjustment for inflation, based on the percentage change in the consumer price index the prior 12 months.
When Princeton University bought 81 acres of land in West Windsor in 2002, they committed to making the payment once the land was assessed as farmland in 2008. It was then that they made the first disbursement of the $50,000 contribution.
Mayor Hsueh stated, “We appreciate that Princeton University is providing the Township with this revenue. We are proud to have Princeton University as a member of our community.”