AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO 449 WASHINGTON STREET URBAN RENEWAL CO., LLC, 27 AUSTIN STREET, NEWARK, NEW JERSEY 07114, FOR A PROJECT TO CONSTRUCT A NEW FIVE (5) STORY BUILDING WITH A TOTAL OF TWENTY (20) RESIDENTIAL RENTAL UNITS, OF WHICH TEN (10) WILL BE MARKET RATE RESIDENTIAL RENTAL UNITS AND TEN (10) WILL BE AFFORDABLE HOUSING RENTAL UNITS WHICH SHALL BE RESTRICTED TO TENANT’S AT 60% OF AREA MEDIAN INCOME (“AMI”), AND A GROUND LOBBY WITH NO ON-SITE PARKING SPACES, LOCATED AT 449 WASHINGTON STREET, NEWARK, NEW JERSEY 07102 AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 115, LOT 15 (CENTRAL WARD). Deferred 6PSF-e 052125