AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR TAX ABATEMENT TO ADL 605-607 BROAD URBAN RENEWAL, LLC, 218 HAMILTON AVENUE, BROOKLYN, NEW YORK 11231, FOR A PROJECT TO CONSTRUCT (84) RESIDENTIAL RENTAL UNITS CONSISTING OF (71) MARKET-RATE RESIDENTIAL RENTAL UNITS, (13) AFFORDABLE HOUSING RENTAL UNITS, OF WHICH (4) UNITS SHALL BE RESTRICTED TO TENANTS AT 40% OF AREA MEDIAN INCOME (“AMI”), (4) UNITS SHALL BE RESTRICTED TO TENANTS AT 60% AMI AND (5) UNITS SHALL BE RESTRICTED TO TENANTS AT 80% AMI, AND 20,000 SQUARE FEET OF COMMERCIAL SPACE LOCATED AT 605-607 BROAD STREET, NEWARK, NEW JERSEY 07102 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 18, LOTS 27, 28, AND 77 (CENTRAL WARD). Deferred 6PSF-d 080724