AN ORDINANCE GRANTING A TWENTY (20) YEAR TAX ABATEMENT TO 862-868 BROADWAY URBAN RENEWAL, LLC, 7 GLENWOOD AVENUE, SUITE 418, EAST ORANGE, NEW JERSEY 07107, FOR A PROJECT TO CONSTRUCT A NEW BUILDING CONSISTING OF (26) MARKET RATE RESIDENTIAL UNITS, (3) AFFORDABLE HOUSING RENTAL UNITS RESTRICTED TO TENANTS AT 60% OF AREA MEDIAN INCOME AND (24) ON-SITE PARKING SPACES, LOCATED ON REAL PROPERTY COMMONLY KNOWN AS 862-868 BROADWAY AVENUE, NEWARK, NEW JERSEY 07104 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 819, LOT 22. (NORTH WARD)