Title
AN ORDINANCE GRANTING A TWENTY-NINE (29) YEAR TAX ABATEMENT TO CA NEWARK 66-78 MA URBAN RENEWAL LLC, C/O CANYON-AGASSI CHARTER SCHOOL FACILITIES FUND, L.P., 2000 AVENUE OF THE STARS, 11TH FLOOR, LOS ANGELES, CALIFORNIA 90067-4700, THE OWNER OF A CHARTER SCHOOL PROJECT LOCATED ON PROPERTY COMMONLY KNOWN AS 66-78 MORRIS AVENUE, 374 NEW STREET, 372 NEW STREET, 370 NEW STREET, 73 HARTFORD STREET, 75 HARTFORD STREET, AND 77 HARTFORD STREET AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY AS BLOCK 429, LOTS 1.01, 1.02, 1.03, 1.04, 1.05, 1.06 AND 1.07. (CENTRAL WARD)
Deferred 6PSF-d 070914
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WHEREAS, CA Newark 66-78 MA Urban Renewal LLC, c/o Canyon-Agassi Charter School Facilities Fund, L.P., 2000 Avenue of the Stars, 11th Floor, Los Angeles, California 90067-4700, filed an application with the Mayor seeking a long term tax abatement under the Long Term Tax Exemption Law, N.J.S.A. 40A:20-1 et. seq. for a twenty-nine (29) year term for a charter school project on real property located at 66-78 Morris Avenue, 374 New Street, 372 New Street, 370 New Street, 73 Hartford Street, 75 Hartford Street, and 77 Hartford Street, Newark, New Jersey and identified on the official tax map of the City as Block 429, Lots 1.01, 1.02, 1.03, 1.04, 1.05, 1.06 and 1.07 (the "Property"), consisting of the renovation and expansion of the existing 16,000 square foot structure on the Property and its conversion into a structure approximately 31,000 square feet in size which will accommodate approximately 432 students and which will be used as the site for the University Heights Charter School of Excellence, a non-profit corporation (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-a 050411 adopted May 4, 2011, CA Newark 66-78 MA Urban Renewal LLC has f...
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