Dept/ Agency: Economic Housing and Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Approving HMFA Financial Agreement Project Information: RESOLUTION OF THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK GRANTING A THIRTY (30) YEAR TAX ABATEMENT PURSUANT TO THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY LAW OF 1983, AS AMENDED AND SUPPLEMENTED, N.J.S.A. 55:14K-1 ET SEQ. TO NEW EDEN FAITH PARTNERS LLC, 1212 SPRINGFIELD AVENUE, IRVINGTON, NEW JERSEY 07111, FOR A PROJECT TO CONSTRUCT A NEW 100% AFFORDABLE MULTI-FAMILY APARTMENT COMMUNITY WITH FORTY-THREE (43) APARTMENTS IN A 5-STORY, ELEVATOR BUILDING, CONSISTING OF FOUR (4) ONE-BEDROOM UNITS, TWENTY-EIGHT (28) TWO-BEDROOM UNITS AND ELEVEN (11) THREE-BEDROOM UNITS, OF WHICH ONE (1) ONE-BEDROOM UNIT, TWO (2) TWO-BEDROOM UNITS, AND TWO (2) THREE-BEDROOM UNITS SHALL BE SET ASIDE FOR INDIVIDUALS WITH SPECIAL NEEDS AND RESTRICTED TO TENANTS AT OR BELOW 20% OF THE AREA MEDIAN INCOME (“AMI”), AND THREE (3) ONE-BEDROOM UNITS, TWENTY-SIX (26) TWO-BEDROOM UNITS, AND NINE (9) THREE-BEDROOM UNITS SHALL BE RESTRICTED TO TENANTS AT OR BELOW 60% OF THE AMI, (THE “INCOME RESTRICTED UNITS”), INCLUSIVE OF A TWENTY-FOUR (24) CAR PARKING GARAGE, LOCATED ON REAL PROPERTY COMMONLY KNOWN AS 690-700 SOUTH 12TH STREET AND 682-688 SOUTH 12TH STREET, NEWARK, NJ 07103 AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 2618, LOTS 45 AND 53 (COLLECTIVELY, THE “PROJECT”). Additional Information:

What this record is

Held by

NEW EDEN Faith Partners LLC

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

Field

Construction

construction contracts in NJ that end within a year →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

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

Committee

Economic and Housing Development

Introduced

May 18, 2026

On agenda

June 17, 2026

Passed

June 17, 2026

Where it was heard

Municipal Council Jun 17, 2026 Adopt Pass

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