AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR TAX ABATEMENT TO BROADWAY STAR URBAN RENEWAL, LLC, 7 N. MADISON AVENUE #532, SPRING VALLEY, NEW YORK 10977, FOR A PROJECT TO CONSTRUCT A NEW SEVEN (7)-STORY MULTI-FAMILY RENTAL BUILDING CONSISTING OF TWO HUNDRED SIX (206) RESIDENTIAL RENTAL UNITS, OF WHICH 80% OR APPROXIMATELY ONE HUNDRED SIXTY-FIVE (165) RESIDENTIAL UNITS ARE MARKET RATE (THE "MARKET RATE RENTAL UNITS"), OF WHICH 20% OR APPROXIMATELY FORTY-ONE (41) ARE AFFORDABLE HOUSING RENTAL UNITS, OF WHICH ELEVEN (11) UNITS SHALL BE RESTRICTED TO TENANTS AT 40% OF AREA MEDIAN INCOME ("AMI"), ELEVEN (11) UNITS SHALL BE RESTRICTED TO TENANTS AT 60% OF AMI, AND NINETEEN (19) UNITS SHALL BE RESTRICTED TO TENANTS AT 80% OF AMI") (THE "INCOME RESTRICTED UNITS"), APPROXIMATELY 3,000 SQUARE FEET OF RETAIL SPACE ON THE GROUND FLOOR (THE "RETAIL"), A RESIDENTIAL AMENITY SPACE, A 2000 SQUARE FOOT GYM/FITNESS CENTER, AND ONE HUNDRED SIXTEEN (116) ON-SITE PARKING SPACES, A BIKE RACK, RESIDENTIAL LOUNGE/LOBBY, MAINTENANCE OFFICE, TRASH ROOM, MAIL ROOM, A MECHANICAL ROOM, AN ELEVATOR, AND A ROOF COURTYARD, LOCATED AT 686-688 BROADWAY, 676-684 & 690 BROADWAY, AND 692 BROADWAY AND IDENTIFIED ON THE CITY'S TAX MAP AS BLOCK 731, LOTS 27.02, 27.04, AND 27.05. (NORTH WARD)