26-0420
Dept/ Agency: Economic and Housing Development Action: (X ) Ratifying (X) Authorizing (X) Amending Type of Service: Resolution of Support Purpose: To provide support for the submission of an application for tax credits sought by Developer under the Aspire Tax Credit Program to the New Jersey Economic Development Authority Entity Name: KS Nova Towers Urban Renewal LLC Entity Address: 60 Park Place, Floor 20, Newark. New Jersey 07102 Grant Amount: Not Applicable Total Project Cost: $324,110,150.00 City Contribution: $0.00 Other Funding Source/Amount: Traditional debt financing and equity funding Grant Period: Ten (10) years tax credit period, from the project completion date Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property: (Address/Block/Lot/Ward) 32-34 William Street/Block 94/Lot 1 (Central Ward) 26-30 William Street/Block 94/Lot 3 (Central Ward) 16-24 William Street/Block 94/Lot 6 (Central Ward)
- Committee
- Economic and Housing Development
- Introduced
- March 26, 2026
- On agenda
- May 6, 2026
- Passed
- May 6, 2026
Where it was heard
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