AN ORDINANCE AMENDING THE ORIGINAL TAX ABATEMENT GRANTED TO 50 MOUNT PROSPECT GARDENS URBAN RENEWAL, LLC, 17 CLUB WAY, CEDAR GROVE, NEW JERSEY 07009, PURSUANT TO THE LONG TERM TAX EXEMPTION LAW TO EXTEND THE TIMEFRAME TO CONSTRUCT THE PROJECT CONSISTING OF A NEW FOUR (4) STORY BUILDING CONSISTING OF TWENTY-EIGHT (28) MARKET RATE RESIDENTIAL RENTAL UNITS AND SEVEN (7) AFFORDABLE HOUSING UNITS AND ASSOCIATED PARKING LOCATED AT 905-913 MT. PROSPECT AVENUE, NEWARK, NEW JERSEY AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 841, LOT 26 AND 37 (THE “PROJECT”) NORTH WARD

Committee

Economic and Housing Development

Introduced

October 3, 2025

On agenda

December 17, 2025

Passed

January 7, 2026

Where it was heard

Municipal Council Jan 7, 2026 Close on Public Hearing and Adopt Pass Municipal Council Dec 17, 2025 Advance and Adopt on First Reading as 6F- Pass

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