[Adopted 5-19-2014 by Ord. No. 12-2014]
The provisions of N.J.S.A. 40A:12-1 et seq. providing for tax
exemptions and abatements for single-family residential projects is
hereby adopted for the Block 189 Rehabilitation Area and the residential
dwellings to be constructed thereon by the redeveloper, and all relevant
provisions of N.J.S.A. 40A:21-1 et seq. including but not limited
to application procedures, tax abatement agreements and payment in
lieu of taxes shall be available for construction of new single-family
dwellings on the Block 189 Rehabilitation Area.
Applicants for such tax abatement for new residential dwellings
in the Block 189 Rehabilitation Area shall make application to the
City Council of the City of Pleasantville on application forms provided
by the City Council and such applicants shall provide all information
required in such application.
Upon approval, the applicant for tax abatement shall enter into
an agreement with the City, which agreement shall provide the terms
and conditions of the tax abatement.
Such tax abatement agreements shall be in accordance with N.J.S.A.
40A:21-10 and such abatement shall be on a tax phase-in basis in accordance
with N.J.S.A. 40A:21- 10(c).
The provisions of this article apply to new single-family residential
development on the Block 189 Rehabilitation Area only.
Should any section, clause, sentence, phrase or provision of
this article be declared unconstitutional or invalid by a court of
competent jurisdiction, such decision shall not affect the remaining
provisions of this article.
All other ordinances or parts of ordinances which are inconsistent
with the provisions of this article are, and to the extent of such
inconsistency, hereby repealed.
This article shall be effective immediately upon its being adopted
by the City Council of the City of Pleasantville and published as
required by law.
