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.
587 Bergen Street, Block 2659, Lot 18 (South Ward
Name of Owner: Lanzon III, LLC - Architect's Certification - $ 150,000.00
SILOT $ 3,000.00- Purchase Price - $ 305,592.00 (Multiple Lots) - 2 Family New Construction
Architect - Joseph R. Asfour- Contractor - Deamark Inc.
Certificate of Occupancy: September 11, 2012
Additional Information:
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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 2659, LOT 18 AND MORE COMMONLY KNOWN AS 587 BERGEN STREET, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY WHICH IS SEPTEMBER 11, 2012 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, Lanzon III, LLC., filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 587 Bergen Street, also known as Block 2659, Lot 18, on the Official Tax Map for the City of Newark; and
WHEREAS, Lanzon III, 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, Lanzon III, LLC., has/have provided the City of Newark with the necessary Architect's Certification and Certificate of Occupancy; and
WHEREAS, Lanzon III, LLC., has/have satisfied the City of Newark requirements regarding ownership of the aforementioned residential property and is/are eligible f...
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