AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR TAX ABATEMENT TO IRONBOUND LIVING CHESTNUT URBAN RENEWAL, LLC, 1317 NORTH AVENUE, ELIZABETH, NEW JERSEY, 07208, FOR A PROJECT TO CONSTRUCT A NEW FIVE (5) STORY BUILDING CONSISTING OF FIFTY-EIGHT (58) MARKET RATE RENTAL UNITS, FOURTEEN (14) AFFORDABLE HOUSING RENTAL UNITS RESTRICTED TO 80% OF AREA MEDIAN INCOME, IN ACCORDANCE WITH THE CITY ORDINANCE 6PSF-b, DULY ADOPTED OCTOBER 4, 2017, AND SURFACE PARKING LOCATED ON REAL PROPERTY COMMONLY KNOWN AS 115-123 CHESTNUT STREET, 40-50 VESEY STREET AND 1-15 HERMAN STREET, NEWARK, NEW JERSEY AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 920, LOT 21. (EAST WARD)