AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT UNDER THE HMFA LAW TO SHEILA Y. OLIVER SENIOR HOUSING COMMUNITY, LLC, HAVING ITS PRINCIPAL OFFICE AT 28 VALLEY ROAD, SUITE 1, MONTCLAIR, NEW JERSEY 07042, FOR A PROJECT TO CONSTRUCT A 5-STORY RESIDENTIAL BUILDING PROVIDING 100% AFFORDABLE SENIOR HOUSING CONSISTING OF 48 SENIOR HOUSING UNITS, COMPRISED OF FORTY-TWO (42) UNITS TO BE RENTED TO SENIORS AT 60% OF THE AREA MEDIAN INCOME, (“AMI”), FIVE (5) UNITS TO BE DEDICATED AND RENTED TO SENIORS WITH SPECIAL NEEDS AT 20% AMI, ONE (1) UNIT OCCUPIED BY A FULL-TIME SUPERINTENDENT, AND PROJECT AMENITIES ON THE GROUND FLOOR THAT INCLUDE A LEASING OFFICE, COMMUNITY ROOM, LAUNDRY ROOM, WELLNESS AND EXERCISE ROOMS AND AN OUTDOOR PATIO, LOCATED ON REAL PROPERTY IN THE SOUTH WARD AT 117 ALDINE STREET, 119-121 ALDINE STREET, 295 LYONS AVENUE, 297-299 LYONS AVENUE, 301 LYONS AVENUE, AND 303 LYONS AVENUE, NEWARK, NEW JERSEY AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 3051 LOTS 21, 22, 23, 24, 25, 26, 27, AND 28 (COLLECTIVELY, THE “PROJECT”) (SOUTH WARD).

Committee

Economic and Housing Development

Introduced

June 11, 2025

On agenda

July 2, 2025

Passed

August 6, 2025

Where it was heard

Municipal Council Aug 6, 2025 Close on Public Hearing and Adopt Pass Municipal Council Jul 2, 2025 Advance and Adopt on First Reading as 6F- Pass

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