AN ORDINANCE GRANTING A TWENTY-TWO (22) YEAR LONG TERM TAX ABATEMENT TO GOMES GENERATION URBAN RENEWAL, LLC, 34-40 HUDSON STREET, NEWARK, NEW JERSEY 07103 FOR A PROJECT, LOCATED IN THE CENTRAL WARD AT 34 HUDSON STREET, NEWARK, NEW JERSEY 07103 AND IDENTIFIED AS BLOCK 2850, LOT 36 ON THE TAX MAP OF THE CITY (THE “PROPERTY”), TO CONSTRUCT A NEW FIVE (5) STORY BUILDING WITH FIFTY-FIVE (55) RESIDENTIAL RENTAL UNITS CONSISTING OF FORTY-FOUR (44) MARKET RATE RESIDENTIAL RENTAL UNITS (THIRTY-SEVEN (37) ONE-BEDROOM UNITS, SIX (6) TWO-BEDROOM UNITS, AND ONE (1) THREE-BEDROOM UNIT), (THE “MARKET RATE UNITS”), ELEVEN (11) AFFORDABLE HOUSING RENTAL UNITS OF WHICH TWO (2) ONE-BEDROOM UNITS AND ONE (1) TWO-BEDROOM UNITS SHALL BE RESTRICTED TO TENANTS AT 40% OF AREA MEDIAN INCOME (“AMI”), TWO (2) ONE-BEDROOM UNITS AND ONE (1) TWO-BEDROOM UNITS SHALL BE RESTRICTED TO TENANTS AT 60% OF AMI, AND FIVE (5) ONE-BEDROOM UNITS SHALL BE RESTRICTED TO TENANTS AT 80% OF AMI (THE “INCOME RESTRICTED UNITS”), 1,002 SQUARE FEET OF RETAIL SPACE ON THE GROUND FLOOR (THE “RETAIL”), AND TWENTY-FOUR (24) RENTAL PARKING SPACES (COLLECTIVELY, THE “PROJECT”) (CENTRAL WARD). Deferred 6PSF-e 102225