All Legislation
Ordinance21-0869Adopted

AN ORDINANCE RATIFYING AND AUTHORIZING THE CITY OF NEWARK TO ENTER INTO AN AMENDED RESTATED FINANCIAL AGREEMENT CORRECTING A FINANCIAL AGREEMENT FOR A PREVIOUSLY APPROVED FIFTEEN (15) YEAR TAX ABATEMENT TO SOMERSET URBAN RENEWAL LLC, 1865 PALMER AVENUE, SUITE 203, LARCHMONT, NEW YORK 10538, FOR A PROJECT TO ACQUIRE THIRTY-EIGHT (38) AFFORDABLE RENTAL HOUSING UNITS LOCATED ON REAL PROPERTY COMMONLY KNOWN AS 172 SOMERSET STREET AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 2589, LOT 1, TO REFLECT THE PROPER NAME OF THE PROJECT OWNER AS SOMERSET HOMES URBAN RENEWAL, LLC. (CENTRAL WARD)

Progress

Introduced

Jun 15, 2021

In Committee

Oct 26, 2021

Passed

Nov 15, 2021

4

Enacted