Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Application for Long-Term Tax Abatement
Purpose: To construct 40 units of senior apartments, with 10 set aside for those with special needs
Entity Name: Broadway Genesis Urban Renewal Apartments LP
Entity Address: 5 Hanover Square, 17th Floor, New York, New York 10004
Abatement Period: 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)
711-715 Broadway, Block 729, Lots 36.01-36.09, North Ward
Additional Information:
Original tax abatement granted by Resolution 7R3-F(AS) 041812
Original tax abatement amended by Resolution 7R3-D (S)(AS) 043012]
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WHEREAS, Broadway Genesis Urban Renewal Apartments, LP, with an address of c/o H.E.L.P. USA, Inc., 5 Hanover Square, 17th Floor, New York, New York 10004, has filed an application with the Mayor seeking a long term tax exemption for a thirty (30) year term for this residential rental affordable housing project on the property identified on the official tax map as Block 727, Lots 36.01, 36.09, more commonly known as 711-715 Broadway, Newark, New Jersey, (“the property”) pursuant to the Long Term Tax Exemption Law as amended and supplemented, N.J.S.A., 40A:20-1, et seq. (the “Long Term Tax Exemption Law”); and
WHEREAS, the Mayor has submitted the application and proposed Financial Agreement to the Municipal Council with his recommendation thereof, a copy of which is annexed hereto; and
WHEREAS, in accordance with Ordinance No. 6PSF-a 050411 adopted May 4, 2011, Broadway Genesis Urban Renewal Apartments, LP has filed with the City a sworn statement that it has not made any contribution in violation of said ordinance...
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