All Legislation
Ordinance25-1199Adopted

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 A PROJECT LOCATED ON REAL PROPERTY COMMONLY KNOWN AS 41 MADISON 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.

Progress

Introduced

Sep 3, 2025

In Committee

Oct 7, 2025

Passed

Oct 22, 2025

4

Enacted