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Newark council approves 30-year tax abatement for 40 Austin Street development amid community protests
Summary
The Newark Municipal Council on Feb. 5 adopted Ordinance 6PSFA, granting a 30‑year tax abatement to 40 Austin Street Urban Renewal Company LLC to build a five‑story, 43‑unit market‑rate rental building in the East Ward.
The Newark Municipal Council on Feb. 5 adopted Ordinance 6PSFA, granting a 30-year tax abatement to 40 Austin Street Urban Renewal Company LLC to build a five‑story building with 43 market‑rate rental units in the East Ward.
The measure drew several public speakers who said tax abatements are being used for market‑rate development while long‑term residents face rising costs and displacement pressures. "No one should be getting any tax abatement and there should be a moratorium on it until you figure out how you're going to relieve the tax burden of the homeowners," resident Lisa Parker told the council during the public…
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