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AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO 545 ORANGE STREET URBAN RENEWAL, LLC, THE OWNER OF AN AFFORDABLE HOUSING PROJECT CONSISTING OF ELEVEN (11) BUILDINGS AND THREE HUNDRED TWENTY FOUR (324) TENANT UNITS KNOWN AS NEW COMMUNITY MANOR LOCATED ON PROPERTY KNOWN AS 55-79 JONES STREET, 276-292 15TH AVENUE, 314-324 15TH AVENUE, 74-88 14TH AVENUE AND 535-551 ORANGE STREET AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY AS BLOCK 239, LOT 13, BLOCK 249, LOT 15, BLOCK 247, LOT 19, BLOCK 245, LOT 1 AND BLOCK 1904, LOT 1. (CENTRAL/WEST WARDS)
Sponsors: Chaneyfield Jenkins/ Crump
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WHEREAS, 545 Orange Street Urban Renewal, LLC, c/o New Community Corporation, 233 West Market Street, Newark, New Jersey 07103, filed an application with the Mayor seeking a long term tax abatement under the Long Term Tax Exemption Law, N.J.S.A. 40A:20-1 et. seq. for a thirty (30) year term for a substantial renovation to an existing affordable housing project consisting of eleven (11) buildings and three hundred twenty four (324) tenant units known as New Community Manor located on real property commonly known as 55-79 Jones Street, 276-292 15th Avenue, 314-324 15th Avenue, 74-88 14th Avenue, and 535-551 Orange Street, Newark, New Jersey and identified on the City's tax map as Block 239, Lot 13, Block 249, Lot 15, Block 247, Lot 19, Block 245, Lot 1 and Block 1904, Lot 1 (collectively, the "Property") in order to construct certain improvements, including but not limited to the replacement of major interior and exterior structures such as entry doors, windows, and brick walls, the renovation of common and non-residential areas such as laundry, mailroom, hallways, stairways and offices, the replacement and improvement of kitchen cabinets, countertops, stoves, ranges, refrigerators, kitchen and bathroom flooring, bathroom fixtures, finished and lighting in the tenant units, and the renovation of HVAC and mechanical/electrical systems in the buildings...
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