RE: MGM JACKSON, LLC, Application for CPI Increase
BE IT RESOLVED, by the local Rent Control Board of the Township of Jackson, County of Ocean and State of New Jersey, as follows:
WHEREAS, MGM Jackson, LLC, has duly filed an application seeking a Consumer Price Index (CPI) rent increase of 4.1% effective on or after April 1, 2024, in accordance with the start date of each tenant's lease; and
WHEREAS, proper notice of the application was provided by the applicant as required by Ordinance; and
WHEREAS, a public hearing was held on said application on March 28, 2024, in the Municipal Building of the Township of Jackson at which time the applicant provided evidence as to the accuracy and appropriateness of the CPI Increase as referenced in the application; and
WHEREAS, the Board accountant, Carmen J. Memoli, of the firm of Memoli & Company, PC, has reviewed the application and finds the same to be accurate; and
WHEREAS, the rental increase for each of the sites set forth in the application is consistent with that permitted by the Ordinance; and
WHEREAS, the Board has determined that the application for rental increases should not be effective until after the Board has had the opportunity to review and vote on the applications;
WHEREAS, said Board having considered said application, testimony and exhibits