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.
166-168 N. 7th Street, Block 1918 and Lot 69, (Central Ward) Name of Owner: Blue Kingdom, LLC - Architect's Certification - $ 170,000.00
SILOT $ 3,400.00- Purchase Price - $10,000.00 (Land) - 3 Family new construction
Architect - Joseph R. Asfour- Contractor - Darkwood Builders, Inc.
Certificate of Occupancy: January 13, 2012.
No Action Taken, November 20, 2012
Deferred 6PSF-a1 121912/ Public Hearing Open
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 1918, LOT 69 AND MORE COMMONLY KNOWN AS 166-168 N. 7TH STREET, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY WHICH IS JANUARY 13, 2012 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, Blue Kingdom, LLC., filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 166-168 N. 7th Street, also known as Block 1918, Lot 69, on the Official Tax Map for the City of Newark; and
WHEREAS, Blue Kingdom, 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, Blue Kingdom, LLC.has/have provided the City of Newark with the necessary Architect's Certification and Certificate of Occupancy; and
WHEREAS, Blue Kingdom, LLC.has/have satisfied the City of Newark requirements regarding ...
Click here for full text