AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO SOUTH ORANGE AVE. 1 URBAN RENEWAL, INC., 27 PRINCE STREET, ELIZABETH, NEW JERSEY 07208, FOR A PROJECT TO CONSTRUCT ONE-HUNDRED-FORTY-FOUR (144) NON-SENIOR AFFORDABLE HOUSING RESIDENTIAL RENTAL UNITS, WHEREIN TWELVE (12) UNITS SHALL BE RESTICTED TO TENANTS AT 50% AREA MEDIAN INCOME (“AMI”) AND ONE-HUNDRED-THIRTY-TWO (132) UNITS SHALL BE RESTRICTED TO TENANTS AT 60% AMI (THE “INCOME RESTRICTED UNITS”) AND APPROXIMATELY 8,149 SQUARE FEET OF COMMERCIAL SPACE AND APPROXIMATELY 33% OF ON-SITE PARKING SPACES LOCATED AT 572-588 SOUTH ORANGE AVENUE, 80-82 WHITNEY STREET, 84 WHITNEY STREET, 86-88 WHITNEY STREET, AND 391-419 GROVE STREET, NEWARK, NEW JERSEY AND IDENTIFIED ON THE CITY’S MAP AS BLOCK 4002, LOTS 1, 18, 19, 20, AND 30. (WEST WARD) Deferred 6PSF-e 120325