ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO 240 MLK URBAN RENEWAL COMPANY, LLC, 45 ACADEMY STREET, SUITE 205, NEWARK, NEW JERSEY, 07102, THE OWNER OF A PROJECT CONSISTING OF THE REHABILITATION OF AN EXISTING STRUCTURE INCLUDING THE CONSTRUCTION OF NEW ADDITIONAL FLOOR AND THE CONSTRUCTION OF A NEW FIVE (5) STORY STRUCTURE INTO A FIVE (5) STORY MARKET RATE HOUSING APARTMENT BUILDING WITH SEVENTY-SEVEN (77) RESIDENTIAL UNITS AND ONE (1) COMMERCIAL UNIT ON REAL PROPERTY KNOWN AS 93-97 JAMES STREET AND 236-250 DR. MARTIN LUTHER KING JR. BOULEVARD AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY AS BLOCK 43, LOTS 38, 41 AND 48, CENTRAL WARD. Deferred March 2, 2016