Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Application for Long-Term Tax Abatement Purpose: To grant a long term tax abatement, to FAIRMOUNT S. 10TH STREET Apartments, LLC, under the HMFA law to redevelop vacant property to construct twenty-three (23) units of affordable housing Entity Name: FAIRMOUNT S. 10TH STREET APARTMENTS, LLC. Entity Address: 73 Washington Street, Suite 100, Bloomfield, NJ 07003 Abatement Period: 30 years Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 101 S. 9th Street /Block 1827/Lots 12 and 70/West Ward Additional Information: The requested PILOT formula is based on 6.28% of gross revenues.