https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=7961851&GUID=DDA312C9-1A06-4323-829B-324AC616167ELegistar15https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=7961851&GUID=DDA312C9-1A06-4323-829B-324AC616167EDDA312C9-1A06-4323-829B-324AC616167E-2026-04-02-17-23-43Title: AN ORDINANCE GRANTING A TWENTY (20) YEAR LONG TERM TAX ABATEMENT TO NAIMOR 763 S ORANGE URBAN RENEWAL LLC, 90 WASHINGTON ST., SUITE 307, EAST ORANGE, NEW JERSEY 07017 FOR A PROJECT, LOCATED IN THE WEST WARD AT 763 AND 765-767 SOUTH ORANGE AVENUE, NEWARK, NEW JERSEY 07103 AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 4207, LOTS 12, 13 & 14 (THE “PROPERTY”), TO CONSTRUCT A NEW FIVE (5) STORY MIXED USE BUILDING WITH THIRTY-TWO (32) RESIDENTIAL RENTAL UNITS ON THE 2ND THROUGH 5TH FLOORS CONSISTING OF TWENTY-FIVE (25) MARKET RATE RESIDENTIAL RENTAL UNITS (TWO (2) STUDIO UNITS, SIXTEEN (16) ONE-BEDROOM UNITS, AND SEVEN (7) TWO-BEDROOM UNITS), (THE “MARKET RATE UNITS”), SEVEN (7) AFFORDABLE HOUSING RENTAL UNITS OF WHICH ONE (1) ONE-BEDROOM WHICH SHALL BE RESTRICTED TO TENANTS AT 40% OF AREA MEDIAN INCOME (“AMI”), TWO (2) UNITS SHALL BE RESTRICTED TO TENANTS AT 60% OF AMI, CONSISTING OF ONE (1) STUDIO UNIT AND ONE (1) ONE-BEDROOM UNIT, AND FOUR (4) UNITS SHALL BE RESTRICTED TO TENANTS AT 80% OF AMI, CONSISTING OF ONE (1) STUDIO UNIT, TWO (2) ONE-BEDROOM UNITS, AND ONE (1) TWO-BEDROOM UNITS (Thu, 02 Apr 2026 17:23:43 GMT