AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR LONG TAX ABATEMENT TO 636 MLK URBAN RENEWAL LLC, 59 LINCOLN PARK, SUITE 200, NEWARK, NEW JERSEY 07102 FOR A PROJECT, LOCATED IN THE CENTRAL WARD AT 636-642 MARTIN LUTHER KING BOULEVARD, NEWARK, NJ 07102 AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 113, LOT 6.01 (FORMERLY LOTS 6 AND 7) (COLLECTIVELY, THE “PROPERTY”), TO CONSTRUCT THREE (3) NEW BUILDINGS, EACH A FOUR STORY LOW-RISE MULTI-FAMILY DWELLING CONSISTING OF A TOTAL OF FORTY-TWO (42) RESIDENTIAL UNITS, INCLUSIVE OF (A) THIRTY-THREE (33) MARKET RATE RENTAL UNITS, OF WHICH THIRTEEN (13) WILL BE ONE-BEDROOM UNITS, FOURTEEN (14) WILL BE TWO-BEDROOM UNITS, AND SIX (6) WILL BE THREE-BEDROOM UNITS (THE “MARKET RATE UNITS”), AND (B) NINE (9) AFFORDABLE RESIDENTIAL RENTAL UNITS, OF WHICH THERE WILL BE THREE (3) UNITS (ONE (1) ONE-BEDROOM UNIT, ONE (1) TWO-BEDROOM UNIT, AND ONE (1) THREE-BEDROOM UNIT) RESTRICTED TO TENANTS AT 40 % OF AREA MEDIAN INCOME (“AMI”), THREE (3) UNITS (ONE (1) ONE-BEDROOM UNIT, ONE (1) TWO-BEDROOM UNIT, AND ONE (1) THREE-BEDROOM UNIT) RESTRICTED TO TENATS AT 60% AMI, AND THREE (3) UNITS (ONE (1) ONE-BEDROOM UNIT, ONE (1) TWO-BEDROOM UNIT, AND ONE (1) THREE-BEDROOM UNIT) RESTRICTED TO TENANTS AT 80% AMI (COLLECTIVELY, THE “INCOME RESTRICTED UNITS”), AND ELEVEN (11) PARKING SPACES. (COLLECTIVELY, THE “PROJECT”) (CENTRAL WARD). Deferred 6Psf-c 080526

Ordinance Held in Council Introduced March 4, 2026

Where it was heard