All Legislation
Ordinance17-0916Adopted
AN ORDINANCE AMENDING ORIGINAL ORDINANCE 6PSF-B(S) APRIL 30, 2012, TAX ABATEMENT GRANTED TO SOMERSET BROWNSTONES URBAN RENEWAL ASSOCIATES, LLC, 3 EAST STOW ROAD, MARLTON, NEW JERSEY 08053, PURSUANT TO THE LONG TERM TAX EXEMPTION LAW, TO CHANGE THE ANNUAL SERVICE CHARGE FROM 6.28% OF ANNUAL GROSS REVENUE TO 5% OF ANNUAL GROSS REVENUE FOR AN AFFORDABLE HOUSING PROJECT, INCLUDING, BUT NOT LIMITED TO THE CONSTRUCTION OF FOUR (4) THREE-STORY BROWNSTONE-STYLE TOWNHOMES, CONTAINING A TOTAL OF APPROXIMATELY SIXTY (60) RENTAL HOUSING UNITS, LOCATED AT 25-49 SOMERSET STREET AND IDENTIFIED ON THE CITY’S TAX MAPS AS BLOCK 2556, LOT 1.02 (CENTRAL WARD)
Progress
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Introduced
May 5, 2017
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In Committee
Oct 4, 2017
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Passed
Oct 18, 2017
4
Enacted