First Reading: 30-Year Tax Exemption Agreement with 30 Fern Urban Renewal LLC
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Description
Collingswood Commissioners introduced an ordinance to provide a 30-year long term tax exemption and financial agreement with 30 Fern Urban Renewal, LLC for a housing redevelopment project at 30 Fern Avenue. The agreement supports a multi-unit apartment development with affordable housing.
Contract Details
Vendor
30 FERN URBAN RENEWAL LLC
Agency
Borough of Collingswood, NJ
Contract Type
FINANCIAL_SERVICES
Document Date
November 14, 2024
Contract Term
30 years
Renewal Date
2054-12-02
Renewal Info
Long term tax exemption for 30 years upon project completion under New Jersey Long Term Tax Exemption Law; no auto-renewal, would require future legislative action to extend.
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