Title
Ordinance granting five (5) years of tax abatement to the owner of the qualified residential structure, for period commencing from the date of issuance of Certificate of Occupancy and expiring five (5) years thereafter.
772 Summer Avenue, Block 777 and Lot 36 (North Ward)
Name of Owner: Juan Larino - Architect's Certification - $170,000.00
SILOT $3,400.00- Purchase Price - $227,500.00 - 2 Family New construction
Architect - James Peter Kokkalis- Contractor - V&P Construction
Certificate of Occupancy: April 4, 2012.
Additional Information:
Sponsors: Ramos and Gonzalez
No Action Taken, June 18, 2014
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AN ORDINANCE GRANTING FIVE (5) YEARS OF TAX ABATEMENT TO THE OWNER(S) OF THE QUALIFIED RESIDENTIAL STRUCTURE, MORE SPECIFICALLY IDENTIFIED ON THE OFFICIAL TAX MAP AS BLOCK 777, LOT 36 AND MORE COMMONLY KNOWN AS 772 SUMMER AVENUE, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY WHICH IS APRIL 4, 2012 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, Juan Larino, filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 772 Summer Avenue, also known as Block 777, Lot 36, on the Official Tax Map for the City of Newark; and
WHEREAS, Juan Larino has/have requested that the City of Newark grant a tax abatement pursuant to N.J.S.A. 54:4-3.139 et seq. and the Revised Ordinances of the City of Newark (R.O. 10:26-1 et seq., as amended) which provides for a five (5) year tax abatement for new residential construction in order to reduce the substantially high tax burdens and to stabilize and maintain the viability of the neighborhood; and
WHEREAS, Juan Larino has/have provided the City of Newark with the necessary Architect's Certification and Certificate of Occupancy; and
WHEREAS, Juan Larino has/have satisfied the City of Newark requirements r...
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