AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR TAX ABATEMENT TO 566-570 SPRINGFIELD URBAN RENEWAL, LLC, 1 ORIENT WAY, SUITE F #240, RUTHERFORD, NEW JERSEY 07070, FOR A PROJECT TO CONSTRUCT (22) MARKET RATE RESIDENTIAL RENTAL UNITS WITH (2) AFFORDABLE HOUSING RENTAL UNITS WHICH SHALL BE RESTRICTED TO TENANTS AT 60% OF AREA MEDIAN INCOME (“AMI”), AND 500 SQUARE FEET OF COMMERCIAL SPACE AND (10) ASSOCIATED PARKING SPACES, LOCATED AT 566-570 SPRINGFIELD AVENUE, NEWARK, NEW JERSEY 07103 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 316, LOT 20. (CENTRAL WARD) Deferred 6PSF-b 120424 Deferred 6PSF-b 121824 Failed 6PSF-b 010825