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.
258 Badger Avenue, Block 2703, Lot 54.19 (South Ward)
Name of Owner: New Homes, Realty, Inc Architect's Certification -
$ 135,800.00
SILOT $2,716.00- Purchase Price - $266,700.00 (multiple lots) - 3 Family. New Construction
Architect - Luis L. Garcia- Contractor - Sumo Enterprises, Inc.
Certificate of Occupancy: March 23, 2012
Additional Information:
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 2703, LOT 54.19 AND MORE COMMONLY KNOWN AS 258 BADGER AVENUE, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY WHICH IS MARCH 23, 2012 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, New Homes Realty, Inc., filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 258 Badger Avenue, also known as Block 2703, Lot 54.19, on the Official Tax Map for the City of Newark; and
WHEREAS, New Homes Realty, Inc., 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, New Homes Realty, Inc., has/have provided the City of Newark with the necessary Architect's Certification and Certificate of Occupancy; and
WHEREAS, New Homes Realty, Inc., has/have satisfied the City of Newark requirements regarding ownership of the aforementioned res...
Click here for full text