PATERSON — The city would get $6 million over the next five years from St. Joseph’s University Medical Center to settle the ongoing lawsuit over whether the hospital’s property should be tax-exempt.
The mayor and his supporters hailed the deal for providing new revenue for the cash-strapped city and praised the hospital for being a good community partner. But critics argued that Paterson was short-changed in the settlement by accepting a fraction of the money it could have gotten from the hospital.
St. Joseph’s owns about 35 properties in Paterson assessed at a total of $187 million, according to public records. If the hospital paid full taxes like other property owners, its annual bill would be $7.8 million, the records show.
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City officials discussed the