Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Waiving 20 day period for an ordinance to take effect
Purpose: Tax abatement needs to take effect immediately so that there is no delay in providing housing for NJIT students as of the beginning of the 2013-2104 school year
Ordinance No(s).: 6PSFj(S) 082113
Additional Information:
Tax Abatement for NJIT Warren Lot 11 Urban Renewal LLC, 23 Greek Way, Newark, New Jersey.
body
WHEREAS, NJIT Warren Lot 11 Urban Renewal LLC, an urban renewal entity with an address of c/o New Jersey Institute of Technology, 323 Dr. Martin Luther King, Jr. Boulevard, Department of Administration and Treasurer, Fenster Hall, Room 310, Newark, New Jersey 07102-1982, filed an application with the Mayor seeking a long term tax abatement for a residential affordable housing project on land identified on the Official Tax Map of the City of Newark as Block 389.01, Lot 11, more commonly known and identified by the street address of 23 Greek Way, Newark, New Jersey (the Property) pursuant to the Long Term Tax Exemption Law, N.J.S.A. 40A:20-1 et. seq.; and
WHEREAS, during the time period when the tax abatement application was pending with the City, NJIT Warren Lot 11 Urban Renewal LLC commenced construction of the project so that the housing units being constructed on the property would be ready for occupancy by NJIT students as of the beginning of the 2013-2014 school year; and
WHEREAS, due to delays in processing the tax abatement application caused by the unique nature of the project and its inter-relationship to multiple other projects collectively known as the NJIT Greek Village Project, the legislation granting a long term tax abatement for this project was not previously ready to be presented to the Newark Municipal Council for its consideration; and
WHEREAS, students are currently scheduled to move into the housing units on the property starting on or about August 24, 2013; and
WHEREAS, there is therefore an exigent need for the tax abatement for this project to take immediate effect so that there is no delay in providing housing for these students; and
WHEREAS, N.J.S.A. 40:69A-181(b) authorizes a governing body to adopt a resolution declaring an emergency and determining that an ordinance will take immediate effect so long as at least two-thirds of all the members of the governing body vote in favor of such resolution; and
WHEREAS, the Municipal Council recognizes the exigent need described herein and has determined that it is necessary and appropriate to adopt this resolution pursuant to N.J.S.A. 40:69A-181(b) declaring an emergency and determining that Ordinance 6PSFj(S) 082113, once adopted by the Municipal Council after second reading and final passage, shall take immediate effect in accordance with N.J.S.A.40:69A-181(b) upon approval by the Mayor (or passage over his veto) and publication in accordance with law.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. As a result of the reasons set forth herein and the important public policies enunciated, an emergency is hereby declared to exist and Ordinance 6PSFj(S) 082113, once adopted by the Municipal Council after second reading and final passage, shall take immediate effect in accordance with N.J.S.A.40:69A-181(b) upon approval by the Mayor (or passage over his veto) and publication in accordance with law.
STATEMENT
This resolution authorizes an emergency to be declared and further authorizes Ordinance 6PSFj(S) 082113, once adopted by the Municipal Council after second reading and final passage, to become effective in accordance with N.J.S.A.40:69A-181(b) upon approval by the Mayor (or passage over his veto) and publication in accordance with law due to the exigent need for this tax abatement to take immediate effect so that there is no delay in providing housing on the subject property for NJIT students as of the beginning of the 2013-2014 school year.