Title
AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO HELP SPRINGFIELD AVENUE URBAN RENEWAL LP FOR A RESIDENTIAL RENTAL AFFORDABLE HOUSING PROJECT ON PROPERTY LOCATED AT 521 SPRINGFIELD AVENUE, 523 SPRINGFIELD AVENUE, 527 SPRINGFIELD AVENUE, 529 SPRINGFIELD AVENUE, 9-11 BRENNER STREET, 606 SOUTH 10th STREET, and 608 SOUTH 10th STREET, NEWARK, NEW JERSEY AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY AS BLOCK 2614, LOTS 1, 2, 4, 5, 30, 32 AND 33
No Action Taken 8-g 051513
Deferred 6PSF-b 060613
Body
WHEREAS, HELP Springfield Avenue Urban Renewal LP, 5 Hanover Square, 17th Floor, New York, NY 10004, filed an application with the Mayor seeking a long term tax abatement pursuant to the Long Term Tax Abatement Law, N.J.S.A. 40A:20-1 et. seq. for a residential rental affordable housing project on property commonly known as 521 Springfield Avenue, 523 Springfield Avenue, 527 Springfield Avenue, 529 Springfield Avenue, 9-11 Brenner Street, 606 South 10th Street, and 608 South 10th Street, Newark, New Jersey and identified on the official tax map of the City as Block 2614, Lots 1, 2, 4, 5, 30, 32 and 33 (collectively, the "Property") in order to construct a four story building that will contain forty-five (45) studio, one, two and three bedroom apartments, twelve (12) of which will be set aside for special needs tenants, and all forty-five (45) of which shall be affordable housing units and which will provide residential and supportive services to young adults who have aged out of the foster care system, along with a community room, a warming kitchen and manage management offices designed to accommodate a social service coordinator, all as described more fully within the application (collectively, the "Project"); and
WHEREAS, the Mayor has submitted the application and proposed Financial Agreement to the Municipal Council with his recommendation thereof, a copy of which is annexed hereto; and
WHEREAS, in accordance with Ordinance No. 6PSF-...
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