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.
Location: 739 South 12th Street, Block 2632, Lot 3.19 (South Ward)]
Name of Owner: Isabela, LLC
Architect's Certification - $ 220,000.00
SILOT $ 4,400.00
Purchase Price - $ 800,000.00 (multiple lots) - Three (3) Family New construction
Architect - Daniel A. Roma-
Contractor - Granada Construction, Corp.
Certificate of Occupancy: December 10, 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 2632, LOT 3.19 AND MORE COMMONLY KNOWN AS 739 S. 12TH STREET, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY WHICH IS DECEMBER 10, 2012 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, Isabela, LLC, filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 739 S. 12th Street, also known as Block 2632, Lot 3.19, on the Official Tax Map for the City of Newark; and
WHEREAS, Isabela, LLC, 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, Isabela, LLC, has/have provided the City of Newark with the necessary Architect's Certification and Certificate of Occupancy; and
WHEREAS, Isabela, LLC, has/have satisfied the City of Newark requirements rega...
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