All Legislation
Ordinance21-0277Adopted
AN ORDINANCE GRANTING A TAX EXEMPTION TO FOUR CORNERS MILLENNIUM PROJECT URBAN RENEWAL ENTITY, LLC, 89 MARKET STREET, 8TH FLOOR, NEWARK, NEW JERSEY 07102, FOR A PROJECT TO CONSTRUCT A NEW FOURTEEN (14) STORY BUILDING CONSISTING OF APPROXIMATELY (244) RESIDENTIAL RENTAL UNITS, OF WHICH A MINIMUM OF (20%) UNITS SHALL BE AFFORDABLE HOUSING UNITS RESTRICTED TO (60%) OF AREA MEDIAN INCOME IN ACCORDANCE WITH CITY ORDINANCE 6PSF-B, DULY ADOPTED ON OCTOBER 4, 2017 AND 49,197 SQUARE FEET OF COMMERCIAL SPACE ON PROPERTY KNOWN AS 199-201 MARKET STREET, 197 MARKET STREET, 193-195 MARKET STREET, AND 12 BEAVER STREET, NEWARK, NEW JERSEY 07102 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 146, LOTS 35, 37, 38 AND 55 AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FINANCIAL AGREEMENT AND OTHER APPLICABLE DOCUMENTS RELATED TO THE ISSUANCE OF REDEVELOPMENT AREA BONDS (NON-RECOURSE TO THE FULL FAITH AND CREDIT OF THE CITY), AUTHORIZING THE ISSUANCE OF THE REDEVELOPMENT AREA BONDS IN A PRINCIPAL AMOUNT NOT TO EXCEED $1,000,000.00, AND DETERMINING VARIOUS OTHER MATTERS IN CONNECTION THEREWITH. (CENTRAL WARD) DEFERRED 6PSF-b (s/as) 072021 DEFERRED 6PSF-d 080421 No Action Taken 6PSF-b (s) 081721
Progress
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Introduced
Feb 26, 2021
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In Committee
Jul 8, 2021
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Passed
Aug 19, 2021
4
Enacted