Title
AN ORDINANCE AMENDING ORDINANCE 6PSF-d, ADOPTED ON MAY 10, 2018, AND THE ORIGINAL THIRTY (30) YEAR TAX ABATEMENT GRANTED TO GK PRESERVATION, LLC, 1865 PALMER AVENUE, SUITE 203, LARCHMONT, NEW YORK, NEW YORK 10538, PURSUANT TO THE NEW JERSEY HOUSING MORTGAGE FINANCING LAW, TO UPDATE THE DESCRIPTION OF THE PROPERTY SUBJECT TO THE TAX ABATEMENT, AS BLOCK 1808, LOT 1.01.
Deferred 6PSF-c 110421
body
WHEREAS, on September 7, 2016, GK Preservation LLC, 1865 Palmer Avenue, Suite 203, Larchmont, New York, New York 10538 (the "Entity") filed an application with the Mayor of the City of Newark seeking a long term tax abatement pursuant to the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended and supplemented (N.J.S.A. 55:14K-1 et seq. (the "HMFA Law"); for a term of thirty (30) years for a project to transfer and significantly rehabilitate a (422) unit housing complex, including two (2) eighteen (18) story high rise buildings and (24) two (2) and three (3) story townhouse style buildings grouped in six (6) clusters, located at 200 and 250 Georgia King Village, 4-70 Littleton Avenue, 352-374 West Market Street and 17-49 Bergen Street and identified on the Official Tax Map of the City of Newark, as Block 1808, Lot 1, Block 1832, Lot 1 and Block 1833, Lots 1, 60 and 65, and Block 1834, Lot 55 (the "Original Property" and together with the improvements, the "Project"); and
WHEREAS, on May 10, 2018, the Municipal Council adopted Ordinance 6PSF-d, entitled "AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO GK PRESERVATION LLC, 1865 PALMER AVENUE, SUITE 203, LARCHMONT, NEW YORK, NEW YORK 10538-1053, FOR A PROJECT TO SIGNIFICANTLY REHABILITATE A FOUR HUNDRED TWENTY-TWO (422) UNIT HOUSING COMPLEX, INCLUDING TWO (2) EIGHTEEN (18) STORY HIGH RISE BUILDINGS AND TWENTY-FOUR (24) TWO (2) AND THREE (3) STORY TOWNHOUSE STYLE BUILDINGS GROUPED IN SIX (6) CLUSTERS, LOCATED AT 200 AND 250 GEORGIA KING VILLAGE, 4-70 LITTLETON AVENUE, 352-374...
Click here for full text