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.
29 Governor Street, Block 114.01 and Lot 39.01 (Central Ward)
Name of Owner: Tuoy Yam - Architect's Certification - $ 170,000.00
SILOT $3,400.00- Purchase Price - $379,900.00 - 3 Family New Construction
Architect - Joseph R. Asfour- Contractor - Triple A Builders, LLC
Certificate of Occupancy: May 9, 2012
Additional Information:
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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 114.01, LOT 39.01 AND MORE COMMONLY KNOWN AS 29 GOVERNOR STREET, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY WHICH IS MAY 9, 2012 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, Tuoy Yam, filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 29 Governor Street, also known as Block 114.01, Lot 39.01, on the Official Tax Map for the City of Newark; and
WHEREAS, Tuoy Yam, 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, Tuoy Yam, has/have provided the City of Newark with the necessary Architect's Certification and Certificate of Occupancy; and
WHEREAS, Tuoy Yam, has/have satisfied the City of Newark requirements regarding ownership of the aforementioned residential property and is/are eligible for a tax abatement pursuant to N.J.S...
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