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ORDINANCE APPROVING THE EXECUTION OF A FINANCIAL AGREEMENT WITH TWO CENTER STREET URBAN RENEWAL, L.L.C., C/O DRANOFF PROPERTIES, INC., 3180 CHESTNUT STREET, PHILADELPHIA, PENNSYLVANIA 19104, AND OTHER APPLICABLE DOCUMENTS RELATED TO THE AUTHORIZATION AND ISSUANCE BY THE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY OF ITS REDEVELOPMENT AREA BONDS (NON-RECOURSE TO THE FULL FAITH AND CREDIT OF THE CITY) IN AN AMOUNT SUFFICIENT TO GENERATE UP TO $1,000,000 IN PROJECT COSTS, AND DETERMINING VARIOUS OTHER MATTERS IN CONNECTION THEREWITH.
Deferred 6PSF-d 010313/ Public Hearing Open
Deferred 6PSF-b 011613/ Public Hearing Open
Deferred 6PSF-a 020613/ Public Hearing Open
Deferred 6PSF-a 022013/ Public Hearing Open
Deferred 6PSF-a 032013/ Public Hearing Open
Deferred 6PSF-a (s) 032613/ Public Hearing Open
Deferred 6PSF-c 040313/Public Hearing Open
Deferred 6PSF-c 041713/Public Hearing Open
Deferred 6PSF-a 050113/Public Hearing Open
No Action Taken 6PSF-a 051513
Tabled 6PSF-a 052213 (DS/LQ)
Due to advertising, Public Hearing will be held at the November 18, 2013, Regular Meeting.
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WHEREAS, on July 10, 1961, the Municipal Council of the City of Newark (the "City") adopted Resolution No. 7RR, designating an area generally bounded by the Passaic River, Rector Street and Park Place, Park Street, Cherry Street, the southerly line of City Blocks 128, 129 and the southerly line of Block 130, Lot 29 (collectively, the "Redevelopment Area"), as a blighted area in accordance with the Blighted Areas Act, N.J.S.A. 40:55-22.1 et seq. (the "Blighted Areas Act"); and
WHEREAS, the Blighted Areas Act has been repealed and superseded by the Local Redevelopment and Housing Law, constituting Chapter 79 of the Pamphlet Laws of 1992 of the State of New Jersey (the "State"), and the acts amendatory thereof and supplemental thereto (the "Redevelopment Law", as codified by N.J.S.A. 40A:12A-1 et seq.); and
WHEREAS, the Redevelopment Area, including the hereinafter-...
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