I have a dilemma at work and need help deciding what to do?

I have been working at my present company for over five years. A few months ago I was told by the new owner the place was moving. The new location is 100 miles away. When I told him I can't move for two years he said to commute. So, I found another job with slightly higher pay and better benefits.

The dilemma... he asked if I was seriously leaving? I said yes. He than asked me what would change my mind? I said leave me here for two years then I will move to wherever he needs me to go. He said no to that. Then he asked me what is keeping me from moving now? I told him it's financial. My car will be paid off in about a year and a half. Another large personal loan in two years. I will still have my house payment but it's less than $400 a month so, not a big deal. I told him that if I didn't have the car payment and the other loan (the two are about $1200 a month) I could rent something or buy another house. Understand, this guy is kind of cheap. He cut out our Christmas bonuses, took away all overtime, won't hire anyone else and has not given me a raise in three years. BUT, he offered to pay off my house and the personal loan if I move to the new place early next year when our current lease is up. Not as a loan, but as a gift. The new job I think is a better opportunity. But, how do you say no to someone that is that surprisingly generous?

Please help me to decide?