AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR TAX ABATEMENT TO 566-570 SPRINGFIELD URBAN RENEWAL, LLC, 1 ORIENT WAY, SUITE F #240, RUTHERFORD, NEW JERSEY 07070, FOR A PROJECT TO CONSTRUCT (22) MARKET RATE RESIDENTIAL RENTAL UNITS WITH (2) AFFORDABLE HOUSING RENTAL UNITS WHICH SHALL BE RESTRICTED TO TENANTS AT 60% OF AREA MEDIAN INCOME (“AMI”), AND 500 SQUARE FEET OF COMMERCIAL SPACE AND (10) ASSOCIATED PARKING SPACES, LOCATED AT 566-570 SPRINGFIELD AVENUE, NEWARK, NEW JERSEY 07103 AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 316, LOT 20. (CENTRAL WARD) Deferred 6PSF-b 120424 Deferred 6PSF-b 121824 Failed 6PSF-b 010825

Committee

Economic and Housing Development

Introduced

January 3, 2024

On agenda

November 26, 2024

Passed

January 22, 2025

Where it was heard

Municipal Council Jan 22, 2025 Adopted on second reading and final passage Pass Municipal Council Jan 8, 2025 Close on Public Hearing and Adopt Fail Municipal Council Dec 18, 2024 Maintained on Public Hearing and Deferred Pass Municipal Council Dec 4, 2024 Maintained on Public Hearing and Deferred Pass Municipal Council Nov 26, 2024 Advance and Adopt on First Reading as 6F- Pass

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