Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Application for Long-Term Tax Abatement
Purpose: To construct a four (4) story building containing sixty (60) apartment units, fifteen (15) of which will be set aside for residents with HIV/AIDS
Entity Name: SH Residences, LP
Entity Address: 725 Cuthbert Blvd., Cherry Hill, New Jersey 08002
Abatement Period: Thirty (30) years
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X ) n/a
List of Property:
(Address/Block/Lot/Ward)
10-20 Crawford Street, 16-24 W. Kinney Place, 395-399 Halsey Street, and 401-407 Halsey Street/Block 116/Lots 3, 5, 7, 9, 30, 31, 32, 34, 46, 47, 48 and 49/ Central Ward
Additional Information:
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WHEREAS, as authorized under the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended and supplemented, N.J.S.A. 55:14K-1 et seq. (the "HMFA Law"), SH Residences, LP, 725 Cuthbert Boulevard., Cherry Hill, New Jersey 08002 (the "Entity") submitted a Thirty (30) Year Tax Abatement application ( the "Application") for the approval of a residential rental housing project on property located at 10-20 Crawford Street, 16-24 W. Kinney Place, 395-399 Halsey Street, and 401-407 Halsey Street, Newark, New Jersey and identified on the City's Tax Map as Block 116, Lots 3, 5, 7, 9, 30, 31, 32, 34, 46, 47, 48 and 49 (collectively, the "Property") to construct a (4) four story building containing sixty (60) apartment units, fifteen (15) of which will be set aside for residents with HIV/AIDS, and the remainder of which will be marketed to residents earning no more than sixty percent (60%) of County median, and all sixty (60) units of which shall be marketed to the performing arts community ...
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