25-0142
AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR LONG TERM TAX ABATEMENT TO CASA MIA APARTMENTS URBAN RENEWAL, LLC, C/O CAPITAL REALTY GROUP, INC., 86 ROUTE 59 EAST SPRING VALLEY, NEW YORK 10977, FOR A PROJECT, LOCATED IN THE NORTH WARD AT 502-504 SUMMER AVENUE, NEWARK, NEW JERSEY AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 625, LOT 46 (THE “PROPERTY”), TO REHABILITATE A SIX (6) STORY ELEVATOR 100% AFFORDABLE SENIOR-LIVING RESIDENTIAL RENTAL BUILDING WITH A TOTAL OF NINETY-ONE (91) RESIDENTIAL UNITS, CONSISTING OF NINE (9) RESIDENTIAL RENTAL UNITS WHICH SHALL BE RESTRICTED TO TENANTS UP TO 60% OF AREA MEDIAN INCOME (“AMI”) (THE “INCOME RESTRICTED UNITS”), AND ONE (1) NON-INCOME SUPERINTENDENT UNIT (NORTH WARD). Deferred 6PSF-f 120325
- Committee
- Economic and Housing Development
- Introduced
- January 27, 2025
- On agenda
- November 25, 2025
- Passed
- December 17, 2025