Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Lease Agreement
Purpose: Authorize Entry into Sign Location Lease between the City of Newark and Outfront Media LLC
Entity Name: Outfront Media LLC
Entity Address: 185 US Highway 46, Fairfield, New Jersey 07004
Lease Amount: $ 21,600.00 per year and $105,000.00 in back rent
Contract Period: To commence January 1, 2026 for an initial five-year term with annual renewal for successive five-year periods.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a (Existing use on property acquired by the City)
List of Property:
(Address/Block/Lot/Ward)
15 South 14th Street/Block 1899/Lot 6/West Ward
Additional Information:
When the City acquired Block 1899, Lot 6, Outfront Media LLC was already operating an advertising sign on the property pursuant to an existing lease agreement with the prior owner, dating back to April 19, 2000.
body
WHEREAS, the City of Newark, County of Essex, State of New Jersey (the “City”) is the owner of certain property identified on the tax map of the City of Newark as Block 1899, Lot 6, more commonly known as 15 South 14th Street, Newark, New Jersey 07102 (“Property”); and
WHEREAS, prior to the City’s ownership of the Property, Outfront Media LLC (“Lessee”) operated an advertising sign on a portion of the Property as shown on Exhibit A (the “Leased Premises”) pursuant to a lease agreement with the prior owner of the Property dating back to 2000; and
WHEREAS, Lessee’s operation of an advertising sign on the Leased Premises is an existing and ongoing use that has continued following the City’s acquisition of the Property; and
WHEREAS, the City agrees to allow Lessee to continue to occupy the Leased Premises for the purposes of replacing, operating, maintaining, modifying, servicing, and removing one advertising sign, including supporting structures, illumination facilities and connections, back-up panels, service ladders and other appurtenances and ancillary equipment; and
WHEREAS, the City desires to authorize the execution and delivery of the Sign Location Lease annexed hereto as Exhibit B (“Lease Agreement”) to formalize Lessee’s existing use and set forth Lessee’s rights and obligations, including rental payments and a back rental payment, under the City’s ownership.
NOW, THEREFORE, BE IT ORDAINED BY THE NEWARK MUNICIPAL COUNCIL OF THE CITY OF NEWARK, THAT:
1. The Mayor and/or his designee, and the Deputy Mayor/Director of the Department of Economic and Housing Development are authorized to: execute the Lease Agreement in a form substantially consistent with the Lease Agreement annexed hereto as Exhibit B with Outfront Media LLC for a portion of the property identified on the City of Newark Tax Map as Block 1899, Lot 6, more commonly known as 15 South 14th Street, Newark, New Jersey 07102, described and more fully depicted on Exhibit A annexed hereto, for a term of 5 years commencing on January 1, 2026 (the “Commencement Date”) for a base rent of $21,600 per year and one payment of $105,000 representing Back Rent for the period through December 31, 2025.
2. The Mayor and/or his designee, and the Deputy Mayor/Director of the Department of Economic and Housing Development are hereby authorized to effectuate certain business terms and conditions related to the Lease Agreement and may enter into any related documents which may be necessary in order to effectuate the Lease Agreement.
3. The executed Lease Agreement and all exhibits shall be placed on file in the Office of the City Clerk by the Deputy Mayor/Director of Department of Economic and Housing Development.
4. This Ordinance shall become effective upon its passage and publication pursuant to the State law.
STATEMENT
This Ordinance authorizes the Mayor and/or his designee, and the Deputy Mayor/Director of the Department of Economic and Housing Development, to enter into and execute the Lease Agreement in a form substantially consistent with the Lease Agreement annexed hereto as Exhibit B with Outfront Media LLC for a portion of the property identified on the tax map of the City of Newark as Block 1899, Lot 6, more commonly known as 15 South 14th Street, Newark, New Jersey 07102, as described and more fully depicted on Exhibit A annexed hereto, for a term of 5 years at a base rent of $21,600 per year and additional back rent for the period through December 31, 2025 of $105,000.