File #: 21-1933    Version: 1 Name: Ordinance: 5 Year Tax Exemption/Tax Abatement for 38 Evergreen Avenue
Type: Ordinance Status: Adopted
File created: 12/28/2021 In control: Finance
On agenda: 2/23/2022 Final action: 3/8/2022
Title: AN ORDINANCE GRANTING A FIVE (5) YEAR TAX ABATEMENT/EXEMPTION, FOR A PROJECT CONSISTING OF A TWO-FAMILY NEW CONSTRUCTION, ON REAL PROPERTY KNOWN AS 38 EVERGREEN AVENUE, MORE SPECIFICALLY IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 3752, LOT 1. (SOUTH WARD) Deferred 6PSF-k 030222
Sponsors: John Sharpe James, Carlos M. Gonzalez
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
3/8/20221 Municipal Council Close on Public Hearing and AdoptPass Action details Meeting details Video Video
3/2/20221 Municipal Council Maintained on Public Hearing and Deferred to Special MeetingPass Action details Meeting details Video Video
2/23/20221 Municipal Council Advance and Adopt on First Reading as 6F-Pass Action details Meeting details Not available
Title
AN ORDINANCE GRANTING A FIVE (5) YEAR TAX ABATEMENT/EXEMPTION, FOR A PROJECT CONSISTING OF A TWO-FAMILY NEW CONSTRUCTION, ON REAL PROPERTY KNOWN AS 38 EVERGREEN AVENUE, MORE SPECIFICALLY IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 3752, LOT 1. (SOUTH WARD)
Deferred 6PSF-k 030222

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WHEREAS, Edwin and Shirley Cajamarca (the "Owners") filed a timely application (the "Abatement/Exemption Application", a copy of which is attached hereto) with the City of Newark (the "City") requesting a five (5) year tax abatement/exemption under the Five-Year Exemption and Abatement Law, N.J.S.A. 40A:21-1 et seq. (the "Act"), on the property located at 38 Evergreen Avenue, also known as Block 3752, Lot 1 on the Official Tax Map for the City of Newark; and

WHEREAS, it has been determined to be in the best interest of the City to approve the tax abatement/exemption and authorize the execution of Financial Agreement in the form attached hereto.

NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:

1. The abatement/exemption from taxation on improvements is hereby granted to Edwin and Shirley Cajamarca, the Owners, for a period of five (5) years pursuant to the Act, so long as Edwin and Shirley Cajamarca complies with the Act and the terms of the proposed Financial Agreement.

2. The Mayor of the City of Newark is hereby authorized and directed to enter into and execute, on behalf of the City, the Financial Agreement in the form attached hereto.

3. The Director of the Department of Finance shall file an executed copy of the Financial Agreement authorized by this Ordinance with the City Clerk.

4. The Project will conform with all laws of the State of New Jersey and ordinances of the City relating to its construction and use.

5. The Affirmative Action Program now on file in the Office of the City Clerk is declared to be a material condition of the Financial A...

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