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.
82 Walnut Street, Block 877, Lot 19 (East Ward)
Name of Owner: Freddy Espinoza Architect's Certification $ 190,000.00
SILOT $3,800.00 Purchase Price $90,000.00 - 2 Family dwelling
Architect John C. Inglese- Contractor IBN Construction, Inc.
Certificate of Occupancy: January 26, 2012
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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 877, LOT 19 AND MORE COMMONLY KNOWN AS 82 WALNUT STREET, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY WHICH IS JANUARY 26, 2012 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, Freddy Espinoza filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 82 Walnut Street, also known as Block 877, Lot 19, on the Official Tax Map for the City of Newark; and
WHEREAS, Freddy Espinoza 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, Freddy Espinoza has/have provided the City of Newark with the necessary Architect's Certification and Certificate of Occupancy; and
WHEREAS, Freddy Espinoza has/have satisfied the City of Newark requirements regarding ownership of the aforementioned residential property and is/are eligible for a tax abatement pursuant to N.J.S.A. 54:4-3.139 et seq. and the...
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