Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Private Sale/Redevelopment
Purpose: First Amendment to the Private Sale/Redevelopment with Clinton View, LLC to adjust the Sale Amount due to Environmental Remediation.
Entity Name: Clinton View, LLC
Entity Address: 40 Clifton Street, Newark, New Jersey 07114
Sale Amount: $972,000.00 minus an Environmental Remediation credit not to exceed $194,400.00
Cost Basis: ( ) $PSF (X ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $227,500.00
Appraised Amount: N/A
Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by the City
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
176-178 Clinton Avenue/Block 2802/ Lot 47/ South Ward
Additional Information:
Resolution 7R2-g adopted on June 17, 2026, authorized the Private Sale/Redevelopment pursuant to the Agreement for the Sale and Redevelopment of Land.
This Resolution authorizes a First Amendment to the Agreement for the Sale and Redevelopment of Land to adjust the Sale Amount due to Environmental Remediation that must be provided on the Property.
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WHEREAS, on June 17, 2026 the Newark Municipal Council adopted Resolution 7R2-g (the “Original Resolution”), which authorized the Mayor and/or his designee the Deputy Mayor/Director of the Department of Economic and Housing Development to enter into and execute an Agreement for the Sale and Redevelopment of Land (“Agreement”), for the sale of the following City-owned property (the “Property”) to Clinton View, LLC, 40 Clifton Street, Newark, New Jersey 07114 (“Redeveloper”), pursuant to the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq., located within the South Ward, no longer needed for public use, in accordance with the Third Amendment to the South Ward Redevelopment Plan, adopted by Ordinance 6S&Fd(S) on August 17, 2005, as amended, which governs the redevelopment of City-owned property located in the South Ward, in the amount of Nine Hundred Seventy-Two Thousand Dollars and Zero Cents ($972,000.00), for the construction of a residential development with a minimum of 16 units. The project may also include subdivision of the rear lot to allow for additional three-family homes (“Scope of Project”):
ADDRESS WARD BLOCK LOT
176-178 Clinton Avenue South 2802 47
WHEREAS, the property has been abandoned and subject to repeated dumping and other nature causes that compromised the property; and
WHEREAS, the Redeveloper wishes to have the property remediated prior to the redevelopment of the property and will cover all expenses; and
WHEREAS, the Deputy Mayor/Director of the Department of Economic Housing and Development has reviewed and approved the Amended Sale Price pending proof of completion and payment for the Remediation Services and recommends that the Newark Municipal Council authorize the execution of the First Amendment to the Agreement for the Private Sale/Redevelopment with the Amended Sale Price (“Amended Sale Price”); and
WHEREAS, the City and Redeveloper desire to amend the Original Resolution, to approve to change the purpose of the sale to reflect the Amended Project Description and enter into the First Amendment to the Agreement for the Private Sale/Redevelopment (“Amended Agreement”) in order to memorialize the terms and conditions of the sale and redevelopment of the Property, in a form substantially consistent to the Amended Agreement, attached hereto as Exhibit A.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. Resolution 7R2-g, adopted on June 17, 2026 (“Original Resolution”) by the Newark Municipal Council and the Private Sale/Redevelopment (“Original Agreement”) are hereby amended to change the following:
• To adjust the Sale Amount to reflect $972,000.00 minus an Environmental Remediation credit not to exceed $194,400.00 (“Amended Sale Price”).
2. The Mayor and/or his designee, the Deputy Mayor/Director of the Department of Economic and Housing Development, is hereby authorized to enter into and execute the First Amendment to the Agreement for the Private Sale/Redevelopment (“Amended Agreement”), in the form attached here to as Exhibit A, with Clinton View, LLC, 40 Clifton Street, Newark, New Jersey 07114 (the “Redeveloper), for the construction of the following Property, for the following Purchase Price, in accordance with the requirements of N.J.S.A. 40A;12A-8(g), the terms and conditions of the attached Amended Agreement and the South Ward Redevelopment Plan, as amended and to amend the Project Description, (“Amended Agreement”):
ADDRESS WARD BLOCK LOT
176-178 Clinton Avenue South 2802 47
3. All other terms and conditions of the Original Resolution and the Original Agreement shall remain in full force and effect.
4. The Deputy Mayor/Director of the Department of Economic and Housing Development is hereby authorized to effectuate certain business terms and conditions related to the Amended Agreement and may enter into any related documents, which may be necessary in order to effectuate the Amended Agreement.
5. The executed Amended Agreement and the Quitclaim Deed shall be placed on file in the Office of the City Clerk by the Deputy Mayor/Director of the Department of Economic and Housing Development.
6. The Deputy Mayor/Director of the Department of Economic and Housing Development is authorized to enter into a maximum of two (2) six (6) month extensions of any timeframe set forth in the Amended Agreement, subject to full written disclosure of such extension(s) (in the form of a signed Memorandum to be submitted to the Office of the City Clerk prior to adoption) to the Municipal Council of the City of Newark by the Deputy Mayor/Director of the Department of Economic and Housing Development and the approval of the City of Newark’s Corporation Counsel.
7. The Redeveloper shall have thirty (30) days from the date this Resolution is certified by the Office of the City Clerk to execute the attached Amended Agreement and return same to the Department of Economic Housing Development. Should the Redeveloper fail to execute and return the attached Amended Agreement within this thirty (30) day time period, the authorization provided by this Resolution shall be null and void, unless the Deputy Mayor/Director of the Department of Economic and Housing Development agrees in writing to extend this thirty (30) day period.
8. The Deputy Mayor/Director of the Department of Economic and Housing Development is hereby authorized to execute a Quitclaim Deed to the Redeveloper for the Property. Said Quitclaim Deed conveying title to the Property to the Redeveloper shall be approved as to Form and Legality by the City’s Corporation Counsel and attested to and acknowledged by the City Clerk.
STATEMENT
This Resolution authorizes the Mayor and/or his designee, the Deputy Mayor/Director of the Department of Economic and Housing Development, on behalf of the City of Newark, to enter into a First Amendment to the Agreement for the Sale of Land Redevelopment with Clinton View, LLC, 40 Clifton Street, Newark, New Jersey 07114 (“First Amendment”), to amend the Sale Amount.