AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO FOREST HILL HOUSE PRESERVATION URBAN RENEWAL, LLC, 650 5TH AVENUE, 20TH FLOOR, NEW YORK, NEW YORK 10019, FOR A PROJECT TO REHABILITATE A TEN (10) STORY, (100) UNIT, 100% SENIOR-OCCUPIED AFFORDABLE ELEVATOR BUILDING CONSISTING OF (100) HOUSING RENTAL UNITS COMPRISED OF (18) STUDIOS, (81) ONE-BEDROOM UNITS, AND ONE (1) TWO-BEDROOM SUPERINTENDENT UNIT, ALL OF WHICH SHALL BE RESTRICTED TO TENANTS AT 60% OF AMI, A PARTIAL BASEMENT, MULTIPLE COMMON SPACES ON THE FIRST FLOOR, AND (25) ON-SITE PARKING SPACES RESERVED FOR BUILDING RESIDENTS LOCATED AT 501-507 MOUNT PROSPECT AVENUE, NEWARK, NEW JERSEY 07104 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 628, LOT 13 (NORTH WARD).