12 results for “mortgage approvals”
12 results for “mortgage approvals”
Ordinance 25-048 approves a 30-year tax exemption for 701 Newark Avenue, LLC for property at Block 7902, Lots 25–29 (693-701 Newark Avenue, Jersey City) under the New Jersey Housing and Mortgage Finance Act. The exemption supports approximately $11.5 million in NJHMFA funding for a 35-story mixed-use development containing 360 dwelling units, including 90 affordable units, plus approximately 2,979 square feet of commercial space. In exchange, the entity will pay 11% of Annual Gross Revenue for years 1–15 (estimated at $6.5 million in the first five years), 12% for years 16–20, and 13% for years 21–30, plus an annual 2% administrative fee on the prior year's Annual Service Charge (estimated at $137,135 in the first five years). The ordinance was offered for adoption by Council as a Whole at the first reading (Agenda 3.4) and second reading/final passage (Agenda 4.6).
AI summary
The Hawaiian Homes Commission will hold a meeting/workshop on April 21–22, 2025, at Kūlana ʻŌiwi Hālau on Molokaʻi and via Zoom to address homestead applications, lease awards, and land management matters. The agenda includes consent items such as mortgage approvals, application certifications, and photovoltaic system licenses, as well as regular items covering residential lease awards in Kapolei, Ewa Beach, and Anahola, and new licenses for county parks and federal aviation facilities. Public testimony on agendized items will be accepted at the meeting, with meeting packets to be available by April 16, 2025.
AI summary