Share to Facebook Share to Twitter Bookmark and Share
File #: 19-0035    Version: 1 Name: 98 Frelinghuysen Ave Tax Abatement
Type: Ordinance Status: Adopted
File created: 1/8/2019 In control: Economic and Housing Development
On agenda: 3/12/2019 Final action: 4/3/2019
Title: AN ORDINANCE GRANTING A TWENTY-THREE (23) YEAR TAX ABATEMENT TO 98 FRELINGHUYSEN REAL ESTATE URBAN RENEWAL ENTITY, LLC, 56 NEW HOOK ROAD, SUITE 2F, BAYONNE, NEW JERSEY 07002, FOR A PROJECT TO DELIVER A SITE PAD AND CONSTRUCT A ONE HUNDRED TEN (110) ROOM HOTEL ABOVE THE EXISTING PARKING GARAGE LOCATED AT 94-120 FRELINGHUYSEN AVENUE, NEWARK, NEW JERSEY, ALSO KNOWN AS 98 FRELINGHUYSEN AVENUE, NEWARK, NEW JERSEY AND IDENTIFIED ON THE CITY'S TAX MAP AS BLOCK 2780, LOT 1. Deferred 6PSF-d 032019 Deferred 6PSF-a (s) 032619
Sponsors: John Sharpe James, Joseph A. McCallum, Jr.
Related files: 12-1541
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
4/3/20191 Municipal Council Closed on Public Hearing and AdoptedPass Action details Meeting details Video Video
3/26/20191 Municipal Council Maintained on Public Hearing and DeferredPass Action details Meeting details Video Video
3/20/20191 Municipal Council Maintained on Public Hearing and Deferred to Special MeetingPass Action details Meeting details Video Video
3/12/20191 Municipal Council Advanced and Adopted on First Reading asPass Action details Meeting details Not available
TITLE
AN ORDINANCE GRANTING A TWENTY-THREE (23) YEAR TAX ABATEMENT TO 98 FRELINGHUYSEN REAL ESTATE URBAN RENEWAL ENTITY, LLC, 56 NEW HOOK ROAD, SUITE 2F, BAYONNE, NEW JERSEY 07002, FOR A PROJECT TO DELIVER A SITE PAD AND CONSTRUCT A ONE HUNDRED TEN (110) ROOM HOTEL ABOVE THE EXISTING PARKING GARAGE LOCATED AT 94-120 FRELINGHUYSEN AVENUE, NEWARK, NEW JERSEY, ALSO KNOWN AS 98 FRELINGHUYSEN AVENUE, NEWARK, NEW JERSEY AND IDENTIFIED ON THE CITY'S TAX MAP AS BLOCK 2780, LOT 1.
Deferred 6PSF-d 032019
Deferred 6PSF-a (s) 032619
body

WHEREAS, on February 6, 2013, the City adopted Ordinance 6PSF-f approving a tax abatement for 98 Frelinghuysen Real Estate Urban Renewal Entity, LLC, 56 New Hook Road, Suite 2F, Bayonne, New Jersey 07002 (the "Entity"), for a twenty (20) year term for a project to construct a parking garage located at 94-120 Frelinghuysen Avenue, Newark, New Jersey, also known as 98 Frelinghuysen Avenue, Newark, New Jersey and identified on the City's tax map as Block 2780, Lot 1; and

WHEREAS, on February 19, 2014, the City and the Entity entered into that certain Financial Agreement governing the tax abatement for the parking garage (the "Original Financial Agreement"); and

WHEREAS, the Entity, filed a new 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 twenty-three (23) year term for a project to deliver a site pad and construct a one hundred ten (110) room hotel above the existing parking garage located at 94-120 Frelinghuysen Avenue, Newark, New Jersey, also known as 98 Frelinghuysen Avenue, Newark, New Jersey and identified on the City's tax map as Block 2780, Lot 1 (the "Project"); 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 6PSF-a adopted May 4, 2011, ...

Click here for full text