Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Stipulation of Settlements for Tax Appeals
List of Property:
(Tax Payer/Address/Block/Lot/Ward/Assmnt./Year/Refund Amount)
1084-1092 Broad St. Urban Renewal, Rite Aid Corporation 3647-02(Lessee)/1084-1092 Broad Street/897/1.01/East/2014/-$4,715,000.00/-$7,913.75
1084-1092 Broad St. Urban Renewal, Rite Aid Corporation 3647-02(Lessee)/1084-1092 Broad Street/897/1.01/East/2015/-$4,715,000.00/-$8,444.57
1084-1092 Broad St. Urban Renewal, Rite Aid Corporation 3647-02(Lessee)/1084-1092 Broad Street/897/1.01/East/2016/-$4,715,000.00/-$8,778.88
General Chemical/302-310 Doremus Avenue/5070/3/East/2013/-$2,622,000.00/-$16,371.43
General Chemical/302-310 Doremus Avenue/5070/3/East/2014/-$2,622,000.00/-$17,191.94
General Chemical/302-310 Doremus Avenue/5070/3/East/2015/-$2,622,000.00/-$18,345.10
General Chemical/302-310 Doremus Avenue/5070/3/East/2016/-$2,622,000.00/-$19,071.36
General Chemical/332-352 Doremus Avenue/5070/5/East/2012/-$1,092,600.00/-$15,858.49
Dry Ice Corp c/o 39 McClellan LLC/9-39 Mc Clellan Street/3773/25/South/2013/-$1,000,000.00/-$10,167.18
BT Property LLC/1-23 Olympia Drive/5084/112/East/2014/-$4,256,500.00/-$24,808.00
BT Property LLC/1-23 Olympia Drive/5084/112/East/2015/-$4,256,500.00/-$26,472.00
BT Property LLC/1-23 Olympia Drive/5084/112/East/2016/-$3,856,500.00/-$41,280.00
Manuel Abadin/120-132 Pacific Street/948/2/East/2012/-$952,400.00/-$9,455.03
Mataji & Ganesh, LLC v Newark/135 Brunswick Street/2802/18/South/2013/-$48,000.00/$0.00
Mataji & Ganesh, LLC v Newark/135 Brunswick Street/2802/18/South/2014/-$48,000.00/$0.00
Mataji & Ganesh, LLC v Newark/135 Brunswick Street/2802/18/South/2015/-$48,000.00/$0.00
Mataji & Ganesh, LLC v Newark/135- Brunswick Street/2802/19/South/2013/-$10,500.00/$0.00
Mataji & Ganesh, LLC v Newark/135- Brunswick Street/2802/19/South/2014/-$10,500.00/$0.00
Mataji & Ganesh, LLC v Newark/135- Brunswick Street/2802/19/South/2015/-$10,500.00/$0.00
Mataji & Ganesh, LLC v Newark/188-194 Clinton Avenue/2802/39/South/2013/-$891,500.00/-$17,396.12
Mataji & Ganesh, LLC v Newark/188-194 Clinton Avenue/2802/39/South/2014/-$841,500.00/-$19,818.49
Mataji & Ganesh, LLC v Newark/188-194 Clinton Avenue/2802/39/South/2015/-$766,500.00/-$23,629.57
Normandie Group, LLC/103-123 Chancellor Avenue/3691.01/45/South/2014/-$4,000,000.00/-$3,101.00
CDL Urban Renewal Corp/1199-Broad Street/2806/21/East/2013/-$626,100.00/$0.00
CDL Urban Renewal Corp/1199-Broad Street/2806/21/East/2014/-$470,000.00/-$4,840.66
Fiallo, Jorge L. /45 Bloomfield Avenue/515/31/Central/2012/-$343,500.00/$0.00
Fiallo, Jorge L. /45 Bloomfield Avenue/515/31/Central/2013/-$566,300.00/$0.00
Fiallo, Jorge L. /45 Bloomfield Avenue/515/31/Central/2014/-$475,000.00/-$2,831.21
Fiallo, Jorge L. /45 Bloomfield Avenue/515/31/Central/2015/-$475,000.00/-$3,021.12
Fiallo, Jorge L. /45 Bloomfield Avenue/515/31/Central/2016/-$475,000.00/-$3,140.72
AMB Liberty LLC/158-178 Mt. Olivet Avenue/5090/75/South/2011/-$7,800,000.00/-$16,640.00
AMB Liberty LLC/158-178 Mt. Olivet Avenue/5090/75/South/2012/-$7,800,000.00/-$17,260.00
AMB Liberty LLC/158-178 Mt. Olivet Avenue/5090/75/South/2013/-$10,393,500.00/$0.00
AMB Liberty LLC/158-178 Mt. Olivet Avenue/5090/75/South/2014/-$10,704,400.00/$0.00
Pagon, Ramon/379 6th Avenue West/1924/39/West/2012/-$20,000.00/-$165.70
Saleem, Hakeem & Gwendolyn/324-326 West Runyon Street/3036/45/South/2013/-$325,000.00/-$2,775.82
Saleem, Hakeem & Gwendolyn/324-326 West Runyon Street/3036/45/South/2014/-$318,500.00/-$3,116.51
Saleem, Hakeem & Gwendolyn/324-326 West Runyon Street/3036/45/South/2015/-$285,000.00/-$4,434.06
Saleem, Hakeem & Gwendolyn/324-326 West Runyon Street/3036/45/South/2016/-$285,000.00/-$4,609.60
Elizabeth Custer Partners, LLC/463-473 Elizabeth Avenue/3565/18/South/2013/-$3,200,000.00/$0.00
Elizabeth Custer Partners, LLC/463-473 Elizabeth Avenue/3565/18/South/2014/-$2,755,500.00/-$13,783.95
Elizabeth Custer Partners, LLC/463-473 Elizabeth Avenue/3565/18/South/2015/-$2,450,000.00/-$24,817.50
Circle PW, LLC/34-60 Rutherford Street/5050/12/East/2013/-$2,450,000.00/-$32,952.53
Circle PW, LLC/34-60 Rutherford Street/5050/12/East/2014/-$2,100,000.00/-$45,457.56
Circle PW, LLC/34-60 Rutherford Street/5050/12/East/2015/-$1,750,000.00/-$60,088.13
Dinardo, Antonio & Germano, & Cutri/48 Commerce Street/145/38/Central/2013/-$600,000.00/-$702.81
Dinardo, Antonio & Germano, & Cutri/48 Commerce Street/145/38/Central/2014/-$550,000.00/-$2,288.54
Adams, Cornell/1191-1199 Broad Street/2806/16/East/2013/-$506,700.00/$0.00
Adams, Cornell/1191-1199 Broad Street/2806/16/East/2014/-$470,000.00/-$1,138.07
Roque, Jose C. & Rebimbis J.D./108-116 Johnson Str/933/26.10/East/2013/-$450,000.00/-$2,096.63
Roque, Jose C. & Rebimbis J.D./108-116 Johnson Str/933/26.10/East/2014/-$450,000.00/-$2,201.71
De Bellis, Eugene & Lorraine/477 Bloomfield Avenue/645/19/North/2013 -$62,100.00/$0.00
De Bellis, Eugene & Lorraine/479-485 Bloomfield Avenue/645/21/North/2013/-$221,400.00/-$6,496.60
Bergen Holdings LLC/955-959 Bergen Street/3667/1/South/2014/-$750,000.00/-$1,085.35
Bergen Holdings LLC/955-959 Bergen Street/3667/1/South/2015/-$710,000.00/-$2,481.75
Tavares, Lucio & Fatima M./45 Pacific Street/938/26/East/2013/-$322,700.00/-$2,953.00
Tavares, Lucio & Fatima M./45 Pacific Street/938/26/East/2014/-$322,700.00/-$3,101.00
Melvin, Walter/360-362 Peshine Avenue/3578/36/South/2012/-$136,800.00/$0.00
Melvin, Walter/360-362 Peshine Avenue/3578/36/South/2013/-$110,000.00/-$750.06
Melvin, Walter/358 Peshine Avenue/3578/38/South/2012/-$137,200.00/$0.00
Melvin, Walter/358 Peshine Avenue/3578/38/South/2013/-$110,000.00/-$1,249.12
RBH Group Partners, IX, LP/93-95 Market Street/72/6/Central/2013/-$480,500.00/-$24,323.86
RBH Group Partners, IX, LP/93-95 Market Street/72/6/Central/2014/-$480,500.00/-$7,746.30
RBH Group Partners, IX, LP/93-95 Market Street/72/6/Central/2015/-$480,500.00/-$8,265.88
RBH Group Partners, IX, LP/93-95 Market Street/72/6/Central/2016/-$480,500.00/-$8,593.12
Wells Fargo Bank/226 West Runyon Street//3028/4/South/2011/-$250,000.00/-$1,976.83
Christopher Crayton/14-16 Jay Street/2851/6.04/Central/2011/-$346,600.00/-$3,328.00
Riverbank Service Station Inc/638-646 Raymond Blvd/2020/4/East/2013/-$500,000.00/-$4,674.60
Riverbank Service Station Inc/638-646 Raymond Blvd/2020/4/East/2014/-$500,000.00/-$4,908.88
550 Broad Street Landlord LP & 550 Broad Investors/548-556 Broad Street/14/9/Central/2012/-$16,929,000.00/$0.00
550 Broad Street Landlord LP & 550 Broad Investors/548-556 Broad Street/14/9/Central/2013/-$32,187,900.00/-$28,771.08
550 Broad Street Landlord LP & 550 Broad Investors/548-556 Broad Street/14/9/Central/2014/-$30,044,200.00/-$96,689.18
550 Broad Street Landlord LP & 550 Broad Investors/548-556 Broad Street/14/9/Central/2015/-$22,892,600.00/-$339,821.06
550 Broad Street Landlord LP & 550 Broad Investors/548-556 Broad Street/14/9/Central/2016/-$23,151,300.00/-$344,374.96
48 Branford Place Ass LLC/48-54 Branford Place/59/21/Central/2010/-$950,000.00/-$7,950.00
48 Branford Place Ass LLC/48-54 Branford Place/59/21/Central/2011/-$950,000.00/-$8,320.00
48 Branford Place Ass LLC/48-54 Branford Place/59/21/Central/2012/-$950,000.00/-$8,630.00
48 Branford Place Ass LLC/48-54 Branford Place/59/21/Central/2014/-$1,350,000.00/-$2,325.75
48 Branford Place Ass LLC/48-54 Branford Place/59/21/Central/2015/-$1,350,000.00/-$2,481.75
396 Associates, LLC/151-155 Market Street/55/10/Central/2010/-$3,000,000.00/-$39,867.66
396 Associates, LLC/151-155 Market Street/55/10/Central/2011/-$3,000,000.00/-$41,723.14
396 Associates, LLC/151-155 Market Street/55/10/Central/2012/-$3,000,000.00/-$43,277.72
396 Associates, LLC/151-155 Market Street/55/10/Central/2013/-$2,500,000.00/-$9,573.63
396 Associates, LLC/151-155 Market Street/55/10/Central/2014/-$2,500,000.00/-$10,053.44
396 Associates, LLC/151-155 Market Street/55/10/Central/2015/-$2,000,000.00/-$10,727.78
Additional Information:
Total Tax Difference: -$1,612,987.24
Invitation: Corporation Counsel, January 4, 2017
body
WHEREAS, there are now pending before the Tax Court of New Jersey direct appeals challenging real property assessments and actions to review judgments of the Essex County Board of Taxation with regard to properties listed on the attached Schedule A, dated December 12, 2016; and
WHEREAS, after a review of the appraisals of both the City and the taxpayer and an analysis of prior County Board and Tax Court actions as they affect these properties, and after careful consideration of these facts, it is the opinion of the Tax Assessor and the Corporation Counsel that these settlements are in the best interests of the City of Newark.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Corporation Counsel of the City of Newark be and is hereby authorized to execute a Stipulation of Settlement with regard to certain properties as set forth in Schedule A, dated December 12, 2016, after receipt of all documents deemed appropriate.
2. The City Clerk shall serve a copy of this resolution upon the Tax Assessor, Corporation Counsel and the Director of Finance.
STATEMENT
This resolution authorizes the execution of a Stipulation of Settlement with regard to Tax Appeals on properties set forth in Schedule A, dated December 12, 2016.