Presently, all towns are experiencing budget cycles of government. In our Garwood borough, a 380-unit high density project was opened 3 years ago and is now occupied. This complex sends 24 district students to our schools, four of them are special needs. These special needs students, that were not in our district before, is now costing us over $500,000. It is certainly our obligation to educate all Garwood’s children of course. However, residents must be aware that with PILOT agreements given out by towns like Halloween candy, the school district gets no revenues, as most of the high-density complexes are tax exempt and under special PILOT agreements. Municipal governing bodies are the ones that create this PILOT agreement with the developers, and it is based solely on a percentage of annual rental income the developers receive. Note: PILOT revenues are basically discounted by between 25-40 percent from normal taxation that we as homeowners incur. Under this agreement our governing body presently receives nearly $1 million/ annually for their municipal budgeting.