AN ORDINANCE GRANTING A TWENTY (20) YEAR LONG TERM TAX ABATEMENT TO SUMMER AVENUE APARTMENTS URBAN RENEWAL, LLC, 4 LIBELLA COURT, NEWARK, NEW JERSEY 07105, FOR A PROJECT LOCATED IN THE NORTH WARD AT 828-832 SUMMER AVENUE, NEWARK, NEW JERSEY 07104 AND IDENTIFIED ON THE CITY'S TAX MAP AS BLOCK 815, LOT 12 (THE "PROPERTY"), TO CONSTRUCT A NEW FIVE (5) STORY MULTIFAMILY RESIDENTIAL BUILDING CONTAINING TWENTY-NINE (29) RESIDENTIAL RENTAL UNITS, CONSISTING OF TWENTY-THREE (23) MARKET-RATE UNITS AND SIX (6) INCOME-RESTRICTED UNITS, TOGETHER WITH SEVENTEEN (17) RENTAL PARKING SPACES, BICYCLE STORAGE FOR APPROXIMATELY THIRTY-TWO (32) BICYCLES, A FITNESS ROOM, A COMMUNITY ROOM/LOUNGE, AND A ROOFTOP DECK INCORPORATING A GREEN ROOF SYSTEM (THE "PROJECT") (NORTH WARD).