https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=8070124&GUID=9121F8DE-CEE8-45E8-8475-ABEE969087A0Legistar15https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=8070124&GUID=9121F8DE-CEE8-45E8-8475-ABEE969087A09121F8DE-CEE8-45E8-8475-ABEE969087A0-2026-06-12-15-13-55Title: AN ORDINANCE GRANTING A THIRTY-FIVE (35) YEAR TAX ABATEMENT PURSUANT TO THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY LAW OF 1983, AS AMENDED AND SUPPLEMENTED, N.J.S.A. 55:14K-1 ET SEQ. TO 10 PARK PLACE NEWARK LLC, C/O BERGER ORGANIZATION, ROBERT TREAT CENTER, 50 PARK PLACE, NEWARK, NEW JERSEY 07102 FOR THE ADAPTIVE REUSE OF THE PROPERTY LOCATED AT 10 PARK PLACE INTO A TEN (10) STORY HIGH-RISE ELEVATOR BUILIGING WITH 196-UNIT FULLY AFFORDABLE RESIDENTIAL RENTAL PROJECT WITH UNITS CONSISTING OF FIFTY-FOUR (54) STUDIO UNITS, ONE-HUNDRED AND SIXTEEN (116) ONE-BEDROOM UNITS, SIXTEEN (16) TWO-BEDROOM UNITS AND TEN (10) THREE-BEDROOM UNITS, OF WHICH 195 HOUSING UNITS SHALL BE RESTRICTED TO TENANTS WHICH AVERAGE 50.1% OF THE AREA MEDIAN INCOME (“AMI”), WHICH INCLUDE EIGHT (8) STUDIO APARTMENTS, SIXTEEN (16) ONE-BEDROOM APARTMENTS, ONE (1) TWO-BEDROOM APARTMENT, AND ONE (1) THREE-BEDROOM APARTMENT UNIT SHALL BE RESTRICTED TO TENANTS AT OR BELOW 30% OF THE AMI; EIGHTEEN (18) STUDIO APARTMENTS, FORTY-THREE (43) ONE-BEDROOM APARTMENTS, SEVEN (7) TWO-BEDROOM APARTMENTS, AND FOUR (4) THREE-BFri, 12 Jun 2026 15:13:55 GMT