7.
RESOLUTIONS
7R8
Municipal Council and City Clerk
7R8-a(s)
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: City of Newark 2025 Municipal Budget
Purpose: Authorizing reading the City of Newark 2025 Municipal Budget
by title only.
Budget Period: 2025
Date: October 1, 2025
Additional Information: N/A
Deferred 7R8-f 100125
The Public Hearing on the 2025 Municipal Budget was held on
Wednesday, October 1, 2025 at 12:30 P.M. in the City Hall,
Council Chamber.
7R8-b(s)
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Support
Purpose: Resolution Supporting Remediation of the Diamond Alkali
Superfund Site
Date: October 1, 2025
Sponsor(s): Council Member-at-Large, Luis A. Quintana
Additional Information:
8.
COMMUNICATIONS
8-a(s)
AN ORDINANCE AMENDING THE TAX ABATEMENT GRANTED TO
KSPG 39 MADISON URBAN RENEWAL, LLC, 486 MARKET
STREET, NEWARK, NEW JERSEY 07105, PURSUANT TO THE
LONG TERM TAX EXEMPTION LAW FOR PROJECT LOCATED
ON REAL PROPERTY COMMONLY KNOWN AS 41 MADISON
A
STREET, NEWARK, NEW JERSEY 07102, AND TO BE IDENTIFIED
ON THE CITY’S TAX MAP AS BLOCK 173, LOT 60 TO REVISE
CERTAIN
TERMS
OF
THE
FINANCIAL
AGREEMENT
FOR
PURPOSE OF DEVELOPER SEEKING TO OBTAIN
A
CERTAIN
MORTGAGE LOAN TO REFINANCE THEIR EXISTING DEBT ON
THE PROPERTY.