Title
ORDINANCE GRANTING FIVE (5) YEARS OF TAX ABATEMENT TO THE OWNERS OF THE QUALIFIED RE SIDENTIAL STRUCTURE, FOR PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF CERTIFICATE OF OCCUPANCY AND EXPIRING FIVE (5) YEARS THEREAFTER.
151 Pacific Street, Block 932, Lot 23 (East Ward)]
Name of Owner: Manuel & Maria Torento - Architect's Certification - $180,000.00
SILOT $3,600.00- Purchase Price - $200,000.00 - 2 Family New Construction
Architect - Daniel A. Roma- Contractor - Nice Contracting, Inc.
Certificate of Occupancy: November 2, 2011
Additional Information:
Deferred 6F-a3 090612
body
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 932, LOT 23 AND MORE COMMONLY KNOWN AS 151 PACIFIC STREET, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY WHICH IS NOVEMBER 2, 2011 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, Manuel & Maria Torento filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 151 Pacific Street, also known as Block 932, Lot 23 on the Official Tax Map for the City of Newark; and
WHEREAS, Manuel & Maria Torento 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 provide 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, Manuel & Maria Torento has/have provided the City of Newark with the necessary Architect's Certification and Certificate of Occupancy; and
WHEREAS, Manuel & Maria Torento has/have satisfied the City of Newark requirements regarding ownership of the aforementioned residenti...
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