Dept./ Agency: Economic and Housing Development Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Resolution of Support Purpose: To provider Municipal Council support, for the submission of an application, for tax credits sought by Developer, under the NJ Aspire Tax Credit Program to the New Jersey Economic Development Authority Entity Name: Pacific Apartments Ventures, LLC Entity Address: c/o Millbrook Realty Group, LLC, 546 Fifth Avenue, 6th Floor, New York, New York 10036 Total Project Cost: $35,471,007.00 City Contribution: $0.00 Other Funding Source/Amount: Traditional debt financing and equity funding Grant Period: Ten (10) years - Tax Credit Period, from 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 164-184 Pennington Street/Block 932/Lot 1/East Ward Additional Information:

Committee

Economic and Housing Development

Introduced

September 22, 2026

On agenda

September 23, 2026

Passed

September 23, 2026

Where it was heard

Municipal Council Sep 23, 2026 Adopt Pass

Watch Newark

Say what matters to you — a street, a company, a subject — and we will email you when Newark files something about it.

Watch this

Free for 14 days, no card — and nothing charges itself: at day 14 the emails simply stop unless you choose to subscribe ($19 a month). One email when something matches, and nothing else. Unsubscribe from any of them. Searching stays free — it is public record.