AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO 442-448 WASHINGTON DEVELOPMENT URBAN RENEWAL, LLC, 20 WASHINGTON STREET, SUITE 403, CRESSKILL, NEW JERSEY 07626, FOR A PROJECT TO CONSTRUCT A NEW SIX (6) STORY BUILDING CONSISTING OF (53) MARKET RATE RESIDENTIAL RENTAL UNITS, (10) AFFORDABLE HOUSING RENTAL UNITS, OF WHICH (2) UNITS SHALL BE RESTRICTED TO TENANTS AT 40% AREA MEDIAN INCOME (“AMI”), (3) UNITS SHALL BE RESTRICTED TO TENANTS AT 60% OF AMI AND (5) UNITS SHALL BE RESTRICTED TO TENANTS AT 80% OF AMI, (35) PARKING SPACES, AND 707 SQUARE FEET OF RETAIL SPACE LOCATED AT 442-448 WASHINGTON STREET, NEWARK, NEW JERSEY 07102 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 116, LOT 71 (CENTRAL WARD).