Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying ( ) Authorizing ( x ) Amending
Type of Service: Amendment of a Long-Term Tax Abatement
Purpose: Amend Resolution 7R3-F (AS) 052213 the approved tax abatement for SH Residences, LP by deleting reference to the Special Needs Set Aside Provision of fifteen (15) units for residents with HIV/AIDS
Entity Name: SH Residences, LP
Entity Address: 725 Cuthbert Boulevard, Cherry Hill, New Jersey 08002
Abatement Period: 30 years
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( x ) n/a
List of Property:
(Address/Block/Lot/Ward)
10-20 Crawford Street, 16-24 West Kinney Place, 395-399 Halsey Street, and 401-407 Halsey Street, Newark, New Jersey, Block 116, Lots 3, 5, 7, 9, 30, 31, 32, 34, 46, 47, 48, and 49, Central Ward
Additional Information:
Original tax abatement granted by Resolution 7R3-F (AS) 052213
(include reference to deferred resolutions, if any)
Deferred 7R3-j (as) 102913
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WHEREAS, on May 22, 2013, the Municipal Council of the City of Newark (the "Municipal Council") adopted Resolution 7R3-F (A.S.) granting a long term tax abatement to SH Residences, LP, having its principal office at 725 Cuthbert Boulevard, Cherry Hill, New Jersey 08002, under 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 residential rental housing project on property located at 10-20 Crawford Street, 16-24 West Kinney Place, 395-399 Halsey Street, and 401-407 Halsey Street, Newark, New Jersey and identified on the Official Tax Map of the City of Newark as Block 116, Lots 3, 5, 7, 9, 30, 31, 32, 34, 46, 47, 48, and 49 (collectively, the "Property"); and
WHEREAS, SH Residence...
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