https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=8070214&GUID=5E5A1A3C-0CEC-4E4B-95D2-88173DB1D679Legistar15https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=8070214&GUID=5E5A1A3C-0CEC-4E4B-95D2-88173DB1D6795E5A1A3C-0CEC-4E4B-95D2-88173DB1D679-2026-06-12-17-03-41Title: Dept./ Agency: Economic and Housing Development Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Resolution of Support Purpose: To provide Municipal Council support, for the submission of an application, for tax credits sought by Developer, under the NJ Aspire Tax Credit Program to the New Jersey Economic Development Authority Entity Name: Stella Gardens Preservation, LLC Entity Address: 250 West 55th Street, 35th Floor, New York, New York 10019 Total Project Cost: $137,665,418.00 City Contribution: $0.00 Other Funding Source/Amount: Traditional debt financing and equity funding Grant Period: Ten (10) years - Tax Credit Period, from project completion date Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property (Address/Block/Lot/Ward 331-343 Springfield Avenue/Block 2544.08/Lot 1/Central Ward Additional Information:Fri, 12 Jun 2026 17:03:41 GMT