AN ORDINANCE AMENDING THE TAX ABATEMENT GRANTED TO KSPG 39 MADISON URBAN RENEWAL, LLC, 486 MARKET STREET, NEWARK, NEW JERSEY 07105, PURSUANT TO THE LONG TERM TAX EXEMPTION LAW FOR A PROJECT LOCATED ON REAL PROPERTY COMMONLY KNOWN AS 41 MADISON STREET, NEWARK, NEW JERSEY 07102, AND TO BE IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 173, LOT 60 TO REVISE CERTAIN TERMS OF THE FINANCIAL AGREEMENT FOR PURPOSE OF DEVELOPER SEEKING TO OBTAIN A CERTAIN MORTGAGE LOAN TO REFINANCE THEIR EXISTING DEBT ON THE PROPERTY.

What this record is

Held by

Abatement Granted TO KSPG 39 Madison 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

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Read automatically from the title of the official record. The source document below is authoritative.

Committee

Economic and Housing Development

Introduced

September 3, 2025

On agenda

October 7, 2025

Passed

October 22, 2025

Where it was heard

Municipal Council Oct 22, 2025 Close on Public Hearing and Adopt Pass Municipal Council Oct 7, 2025 Advance and Adopt on First Reading as 6F- Pass

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