AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR TAX ABATEMENT TO MARKPOLK URBAN RENEWAL, LLC, 300 WILSON AVENUE, NEWARK NEW JERSEY 07105, FOR A PROJECT TO CONSTRUCT A NEW FIVE (5) STORY BUILDING CONSISTING OF FIFTY-SIX (56) MARKET RATE RESIDENTIAL RENTAL UNITS, 1,500 SQUARE FEET OF GROUND FLOOR RETAIL AND FIFTY-SIX (56) ON-SITE PARKING SPACES, LOCATED ON REAL PROPERTY COMMONLY KNOWN AS 558-570 MARKET STREET AND 39-51 POLK STREET, NEWARK, NEW JERSEY 07105 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 1998, LOT 7. (EAST WARD)