Title
AN ORDINANCE GRANTING FIVE (5) YEARS OF TAX ABATEMENT TO THE OWNER OF THE QUALIFIED RESIDENTIAL STRUCTURE, MORE SPECIFICALLY IDENTIFIED ON THE OFFICIAL TAX MAP AS BLOCK 3067, LOT 19.03 AND MORE COMMONLY KNOWN AS 22 WAINWRIGHT STREET, FOR PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF CERTIFICATE OF OCCUPANCY, WHICH IS NOVEMBER 18, 2011 AND EXPIRING FIVE (5) YEARS THEREAFTER.
22 Wainwright Street, Block 3067 and Lot 19.03 (South Ward)]
Name of Owner: Reoney, LLC - Architect's Certification - $ 170,000.00
SILOT $ 3,400.00- Purchase Price - $ 246,000.00 - 3 Family New Construction
Architect - Joseph R. Asfour- Contractor - Bobby Athens Construction Co., LLC.
Certificate of Occupancy: November 18, 2011
Additional Information:
The developer is the owner of the residential property and the dwelling is non-owner occupied.
Deferred 6PSF-d5 022013/Public Hearing Open
Deferred 6PSF-b5 032013/Public Hearing Open
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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 3067, LOT 19.03 AND MORE COMMONLY KNOWN AS 22 WAINWRIGHT STREET, FOR THE PERIOD COMMENCING FROM THE DATE OF ISSUANCE OF THE CERTIFICATE OF OCCUPANCY, WHICH IS NOVEMBER 18, 2011 AND EXPIRING FIVE (5) YEARS THEREAFTER.
WHEREAS, Reoney, LLC., filed a timely application with the City of Newark requesting a five (5) year tax abatement on the residential property located at 22 Wainwright Street, also known as Block 3067, Lot 19.03, on the Official Tax Map for the City of Newark; and
WHEREAS, Reoney, 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 an...
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