24-0895
AN ORDINANCE (1) AMENDING ORDINANCE 6PSF-E, ADOPTED ON AUGUST 19, 2020; (2) ASSIGNING THE RIGHTS AND OBLIGATIONS UNDER A TWENTY-FIVE (25) YEAR TAX ABATEMENT FOR A PORTION OF THE PROJECT BETWEEN THE CITY AND 41 19TH AVENUE URBAN RENEWAL, LLC TO RISE REO URBAN RENEWAL, LLC; AND (3) AUTHORIZING THE EXECUTION OF A NEW FINANCIAL AGREEMENT BETWEEN THE CITY AND RISE REO URBAN RENEWAL, LLC, 61 DEANS LANE, MONMOUTH JUNCTION, NEW JERSEY 08852 IN CONNECTION WITH A REDEVELOPMENT PROJECT CONSISTING OF FORTY-TWO (42) MARKET RATE RESIDENTIAL UNITS AND CERTAIN PROPERTY WHICH THEY ARE SITUATED UPON LOCATED AT 704-708 SOUTH 17TH STREET, 701-707 SOUTH 16TH STREET, 709-717 SOUTH AND IDENTIFIED AS BLOCK 364, LOTS 1.01, 1.02, 1.03 ON THE CITY’S TAX MAP, WHICH REDEVELOPMENT PROJECT IS A PORTION OF A OF A PREVIOUSLY APPROVED REDEVELOPMENT PROJECT CURRENTLY UNDER CONSTRUCTION BY 41 19TH AVENUE URBAN RENEWAL, LLC
What this record is
- Held by
- RISE REO Urban Renewal, LLC
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- amendment
- Field
- Construction
construction contracts in NJ that end within a year →
Governments publish the end date in the award. That date is when the
work goes back out to bid, and it is usually stated years ahead.
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Economic and Housing Development
- Introduced
- June 17, 2024
- On agenda
- February 5, 2025
- Passed
- February 19, 2025
Where it was heard
Municipal Council Municipal CouncilWatch what Newark buys
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