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AN ORDINANCE AMENDING THE LONG TERM TAX ABATEMENT APPROVAL GRANTED UNDER ORDINANCE 6PSF-b JANUARY 8, 2014 , AN ORDINANCE CANCELLING THE LONG TERM TAX ABATEMENT GRANTED VIA RESOLUTION 7R-CV AUGUST 4, 1976, TO ESSEX PLAZA COMPANY UNDER THE LIMITED DIVIDEND LAW FOR AN AFFORDABLE HOUSING PROJECT LOCATED AT 1056-1070 BROAD STREET AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY AS BLOCK 892, LOT 1 AND GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO ESSEX PLAZA URBAN RENEWAL, LLC UNDER THE LONG TERM TAX EXEMPTION LAW FOR THE REHABILITATION OF THE RESIDENTIAL RENTAL AFFORDABLE HOUSING PROJECT ON SAID PROPERTY (EAST WARD)
Deferred 6PSF-e 040214
Note: Public Hearing to be held on April 8, 2014.
Deferred 6PSF-a (s) 040814
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WHEREAS, on January 8, 2014, the Newark Municipal Council adopted Ordinance 6PSF-b granting a long term tax abatement to Essex Plaza Urban Renewal Company, LLC, an urban renewal entity with an address of c/o Essex Management Company, LLC, 1060 Broad Street, Newark New Jersey 07102 (the "Entity"), for the rehabilitation of a senior citizen residential rental affordable housing project known as Essex Plaza (the "Project") located within the City of Newark at 1056-1070 Broad Street, 1048-1054 Broad Street, 15-25 Camp Street, 107 Orchard Street, 109 Orchard Street, 111 Orchard Street, 113 Orchard Street, 115 Orchard Street, 117 Orchard Street, 119-121 Orchard Street, 123-125 Orchard Street, 127 Orchard Street, 129-131 Orchard Street, 22-30 Pennington Street, 20 Pennington Street, 18 Pennington Street, and 115 Orchard Street (rear), Newark, New Jersey and identified on the official tax map of the City as Block 892, Lots 1, 16, 24, 26, 27, 28, 29, 30, 31, 33, 35, 37, 39, 40, 50, 43, 47, 48 and 53 (the "Property"), with such rehabilitation consisting of the conversion of twenty-three (23) housing units into handicap-adaptable units and the installation of a new boiler and new boiler controls, a generator, and solar, geothermal, and wat...
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