AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO 50 SUSSEX REDEVELOPMENT URBAN RENEWAL, LLC, 54 HUDSON STREET, FREEHOLD, NEW JERSEY 07728, FOR A PROJECT TO CONSTRUCT A NEW (15) STORY BUILDING CONSISTING OF (173) MARKET RATE RESIDENTIAL RENTAL UNITS, (30) AFFORDABLE HOUSING RENTAL UNITS, OF WHICH (5) UNITS SHALL BE RESTRICTED TO TENANTS AT 40% OF AMI, (5) UNITS SHALL BE RESTRICTED TO TENANTS AT 60% AMI AND (20) UNITS SHALL BE RESTRICTED TO TENANTS AT 80% AMI, 2,475 SQUARE FEET OF COMMERCIAL SPACE AND (15) ON-SITE PARKING SPACES LOCATED AT 50-54 SUSSEX AVENUE AND 18 HOYT STREET, NEWARK, NEW JERSEY 07103 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 2832, LOT 9 (FORMERLY LOTS 9 AND 2) (CENTRAL WARD).