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File #: 19-1113    Version: 1 Name: Ordinance: Thirty (30) Year Tax Abatement - Jelliff Senior Estates Urban Renewal, LLP
Type: Ordinance Status: Adopted
File created: 6/27/2019 In control: Economic and Housing Development
On agenda: 7/10/2019 Final action: 8/7/2019
Title: AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO JELLIFF SENIOR ESTATES URBAN RENEWAL, LLP, 71 LAKE AVENUE, COLONIA, NEW JERSEY 07067 FOR A PROJECT TO CONSTRUCT A NEW BUILDING CONSISTING OF FIFTY (50) SENIOR AFFORDABLE HOUSING UNITS LOCATED AT 220-224, 226-230 JELLIFF AVENUE, NEWARK, NEW JERSEY AND IDENTIFIED ON THE CITY'S TAX MAP AS BLOCK 2681, LOTS 31, 32, 34. (SOUTH WARD)
Sponsors: John Sharpe James, Mildred C. Crump
Attachments: 1. 19-1113 certified ordinance.pdf
TITLE
AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO JELLIFF SENIOR ESTATES URBAN RENEWAL, LLP, 71 LAKE AVENUE, COLONIA, NEW JERSEY 07067 FOR A PROJECT TO CONSTRUCT A NEW BUILDING CONSISTING OF FIFTY (50) SENIOR AFFORDABLE HOUSING UNITS LOCATED AT 220-224, 226-230 JELLIFF AVENUE, NEWARK, NEW JERSEY AND IDENTIFIED ON THE CITY'S TAX MAP AS BLOCK 2681, LOTS 31, 32, 34. (SOUTH WARD)

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WHEREAS, Jelliff Senior Estates Urban Renewal, LLP, 71 Lake Avenue, Colonia, New Jersey 07067, filed an application with the City seeking a long term tax abatement pursuant to 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"), for a thirty (30) year term for a project to construct a new building consisting of fifty (50) senior affordable housing units located at 220-224, 226-230 Jelliff Avenue, Newark, New Jersey and identified on the City's Tax Map as Block 2681, Lots 31, 32 and 34 (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 on May 4, 2011, Jelliff Senior Estates Urban Renewal, LLP has filed with the City of Newark (the "City") a sworn statement that it has not made any contribution in violation of said ordinance; and

WHEREAS, the Department of Economic and Housing Development has determined that the relative benefits of this Project outweigh any costs associated with this tax exemption and that without the tax abatement granted herein, the Project would not be undertaken.

NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:

1. The application of Jelliff Senior Estates Urban Renewal, LLP, 71 Lake Avenue, Colonia, New Jersey 07067 (the "Entity"), for the development, maintenance and operation of the Project...

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