To the Editor:
It is astonishing that taxpayers are being asked to support the shortfall (estimated at $48 million by the Princeton Coalition for Responsible Development) that will eventually result from the proposed tax break being granted to Herring Properties for a gift in lieu of taxes for the “development” of the plot that belonged to Princeton Theological Seminary. This seems egregious, especially since we are also being asked to approve a $89.1 million bond referendum in January to help Princeton’s schools. Furthermore, this comes at a time when another group of schoolchildren, perhaps as many as 100 or more (a conservative estimate of incoming children is 150) is arriving — whom we are in effect subventing.
The reasons given in support of offering this break do not carry weight, especially the claim that the gateway into town will be enhanced. How does the placement of a large development near the entrance to the borough adjacent to historic buildings and a historic district represent enhancement? Or the massive increase in traffic that will result, especially when people go to work? As it is I can hardly cross Mercer Street to walk my dog during rush hours. I question the assumption that people will walk rather than drive to get the necessary items that they need to live, when the nearest shopping center is over a mile away. more