Financial Agreement Approved for 383 Bloomfield

Verona approved a financial agreement with 383 Bloomfield Avenue Urban Renewal LLC for a redevelopment project at 383 Bloomfield Avenue. The deal grants a 30-year long-term tax exemption and sets annual service charge payments in lieu of conventional property taxes.

Document date · September 14, 2026

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Scope & details

The full contract record, as filed.

Contract type

OTHER

Contract term

Long-term tax exemption; 30 years

Renewal

The agreement terminates on the earlier of the 35th anniversary of the Effective Date, the 30th anniversary of the ASC Commencement Date, or another termination date under the agreement or law. The agreement may be modified only by written consent of both parties.

Document type

Agenda

Source document

Township of Verona Agenda September 14, 2026

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Township of Verona Agenda September 14, 2026

APPROVED

Township of Verona, New JerseySep 14, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by Township of Verona?

383 Bloomfield Avenue Urban Renewal Llc was awarded this government contract by Township of Verona, as recorded on September 14, 2026.

What type of contract is this?

This is a government contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Township of Verona Agenda September 14, 2026 (Agenda), dated September 14, 2026 from Township of Verona. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does 383 Bloomfield Avenue Urban Renewal Llc hold?

383 Bloomfield Avenue Urban Renewal Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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