Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Application for Long-Term Tax Abatement Purpose: Approval of the Assignment and Assumption of the existing tax abatement and financial Agreement in sale of the affordable housing project located at 75-93 Lock Street from Lock Street Preservation Urban Renewal Partnership, L.P. to Lock 75 Nuttman Urban Renewal Entity, LLC Entity Name: Lock 75 Nuttman Urban Renewal Entity, LLC Entity Address: Glenpoint Center West, 500 Frank W. Burr Boulevard, suite 47, Teaneck, NJ 07666 Abatement Period: Continuation of original 50 year abatement Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property: (Address/Block/Lot/Ward) 2-22 Nuttman Street/Block 401/Lot 11/ Central Ward Additional Information: Original tax abatement granted by Resolution 7Rf 061880 to Neighborhoods of the Universities Lock Street Apartments Company Assignment and Assumption granted by Resolution 7REG 080499 to Lockstreet Preservation Urban Renewal Partnership, LP