CAMDEN — The South Jersey Port Corp. has agreed to pay Camden half of the $8 million it owes the cash-strapped city.

The port agency is a quasi-state agency and the biggest land owner in the city where it operates two large port terminals. Like many landmarks in Camden, it makes payments in lieu of taxes instead of paying regular property taxes.

The Courier-Post of Cherry Hill reports it's not clear why the agency didn't make full payments to Camden or other government agencies in the fiscal year that ended June 30.

But the agency agreed on Tuesday to pay Camden $4 million. Negotiations are under way for the 2011 payment.

Camden's state aid has been slashed and the city is planning to lay off up to one-quarter of its workers.

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