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Council hears multiple development incentives; Lionsgate CPACE financing highlighted
Summary
Council reviewed several tax-abatement ordinances for mixed‑use projects and added-starter items, including a CPACE authorization enabling Lionsgate/Newark Studios to access roughly $104 million for green building investments; council asked for developer ownership details for related abatement recipients.
The council reviewed a package of development incentives, including first‑reading ordinances granting long‑term tax abatements to developers in the South and West wards and a set of added‑starter financing items.
Council discussed multiple abatement ordinances for mixed‑use projects with combined market‑rate and deed‑restricted units. Councilman Gonzalez noted several abatement beneficiaries list the same East Orange mailing address and asked whether they are the same company; Sandy Daniel, legislative coordinator for economic and housing development, said she would provide ownership/registration details "by the end of the business day."
Deputy Mayor Allison Lad described an added‑starter CPACE authorization for GreatPoint/Lionsgate Newark Studios, which she said is accessing about $104 million of private financing for green and resilience improvements; she told the council there is no financial liability for the city in the CPACE structure because the debt is tied to the building, not the land.
Council members requested written backup on subsidies and financing terms for projects and asked the administration to circulate documentation before the next meeting.
