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AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX EXEMPTION TO SOMERSET BROWNSTONES URBAN RENEWAL ASSOCIATES, L.P., THE OWNER OF A RESIDENTIAL RENTAL AFFORDABLE HOUSING PROJECT LOCATED ON PROPERTY IDENTIFIED AS PROPOSED BLOCK 2556, LOT 1.02 ON A MAP ENTITLED “AMENDED MAJOR SUBDIVISION PLAT EXISTING TAX LOTS 1, 61 AND 62 IN BLOCK 2556 PROPOSED TAX LOTS 1.01, 1.02 & 1.03 OM BLOCK 2556 SITUATED IN THE CITY OF NEWARK, ESSEX COUNTY, NEW JERSEY” PREPARED BY BIRDSALL SERVICES GROUP, INC. DATED JANUARY 31, 2012, MORE COMMONLY KNOWN AS 50-76 BARCLAY STREET AND 25-49 SOMERSET STREET. Central Ward.
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AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX EXEMPTION TO SOMERSET BROWNSTONES URBAN RENEWAL ASSOCIATES, L.P., THE OWNER OF A RESIDENTIAL RENTAL AFFORDABLE HOUSING PROJECT LOCATED ON PROPERTY IDENTIFIED AS PROPOSED BLOCK 2556, LOT 1.02 ON A MAP ENTITLED “AMENDED MAJOR SUBDIVISION PLAT EXISTING TAX LOTS 1, 61 AND 62 IN BLOCK 2556 PROPOSED TAX LOTS 1.01, 1.02 & 1.03 OM BLOCK 2556 SITUATED IN THE CITY OF NEWARK, ESSEX COUNTY, NEW JERSEY” PREPARED BY BIRDSALL SERVICES GROUP, INC. DATED JANUARY 31, 2012, MORE COMMONLY KNOWN AS 50-76 BARCLAY STREET AND 25-49 SOMERSET STREET. Central Ward.
WHEREAS, Somerset Brownstones Urban Renewal Associates, L.P., an urban renewal entity with an address of 3 East Stow Road, Marlton, New Jersey 08053 filed an application with the Mayor seeking a long term tax exemption for the residential rental affordable housing project on land identified as proposed Block 2556, Lot 1.02 on a map entitled “Amended Major Subdivision Plat Existing Tax Lots 1, 61, and 62 in Block 2556 Proposed Tax Lots 1.01, 1.02 & 1.03 in Block 2556 Situated in the City of Newark, Essex County, New Jersey” prepared by Birdsall Services Group, Inc. dated January 31, 2012, more commonly known and identified by the street addresses of 50-76 Barclay Street and 25-49 Somerset Street, Newark, New Jersey (the “Property”) pursuant to the Long Term Tax Exemption Law, N.J.S.A. 40A...
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