Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Amending Resolution 7R3-E030409 , contract with Sub-recipient
Purpose: To extend the term of the Grant Agreement to permit the Sub-recipient to complete the Halsey Street Façade and other Building/Corridor Improvements Project
Entity Name: Brick City Development Corporation (BCDC)
Entity Address: 744 Broad Street, Suite 1110, Newark, New Jersey 07102
Grant Amount: $750,000.00
Funding Source: 2004 Newark Housing Authority Bonds
Contract Period: May 7, 2009 through April 6, 2015
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X ) Grant (X ) Sub-recipient ( ) n/a
List of Property: (If applicable)
(Address/Block/Lot/Ward)
Additional Information:
Resolution 7R3-E 030409 authorized the Department of Administration to secure $1,200,000 in funds and to enter into and execute a Grant Agreement with Brick City Development Corporation for $750,000.00 for Halsey Street Façade and other Building/Corridor Improvements and $ 450,000.00 for City Engineering Department Public Space and Corridor Improvements.
Resolution #7R3-E040412 authorized the First Amended Grant Agreement with Brick City Development Corporation to extend the term of the Agreement from May 7, 2009 through April 6, 2011 to May 7, 2009 through April 6, 2013
No additional City Funds required by this amendment
body
WHEREAS, pursuant to Resolution 7R3-E, adopted on March 4, 2009, the Municipal Council authorized the Business Administrator and the Deputy Mayor/Director of the Department of Economic & Housing Development to secure $1,200,000.00 to be allocated to the City's Department of Engineering and the Brick City Development Corporation; and
WHEREAS, Resolution 7R3-E, adopted on March 4, 2009, further authorized the Department of Economic & Housing Development to enter into and execute a Redevelopment Grant Agreement (the Agreement) with Brick City Development Corporation (the Sub-recipient) in the amount of $750,000.00 for the purpose of carrying out the Halsey Street Façade and other Building/Corridor Improvements (the Project) for the period of twenty-four (24) months from the date the Sub-recipient receives a Notice to Proceed from the City; and
WHEREAS, the City issued a Notice to Proceed to the Sub-recipient on May 7, 2009 thereby establishing the expiration date as April 6, 2011; and
WHEREAS, the term of the Agreement expired on April 6, 2011 and the Sub-recipient requested an authorization to extend the term of the Agreement from May 7, 2009 through April 6, 2011 to May 7, 2009 through April 6, 2013; to allow the Sub-recipient to complete the Project; and
WHEREAS, pursuant to Resolution 7R3-E adopted on April 4, 2012 the Municipal Council authorized the Mayor and/or his designee, the Deputy Mayor/Director of the Department of Economic and Housing Development, to enter into and execute a First Amended Redevelopment Grant Agreement (the First Amended Agreement) with the Sub-recipient, which amended the term of the Grant Agreement from May 7, 2009 through April 6, 2011 to May 7, 2009 through April 6, 2013, to allow the Sub-recipient to complete the Project.
WHEREAS, the term of the Amended Agreement expired on April 6, 2013 and the Sub-recipient requested an authorization to enter into a Second Amended Agreement to extend the term for an additional two (2) years from May 7, 2009 through April 6, 2013 to May 7, 2009 through April 6, 2015, to allow the Sub-recipient to complete the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
- The Mayor and/or his designee, the Deputy Mayor/Director of the Department of Economic & Housing Development, are hereby authorized to enter into and execute a Second Amended Redevelopment Grant Agreement (the Second Amended Agreement) with Brick City Development Corporation (the Sub-recipient), located at 744 Broad Street, Suite 1110, Newark, New Jersey, 07102, which will amend the term of the Grant Agreement from May 7, 2009 through April 6, 2013 to May 7, 2009 through April 6, 2015, for the purpose of carrying out the Halsey Street Façade and other Building/Corridor Improvements.
- A copy of this resolution and the fully executed Second Amended Agreement shall be filed in the Office of the City Clerk by the Deputy Mayor/Director of the Department of Economic and Housing Development.
- The Second Amended Agreement between the City of Newark and the Sub-recipient is hereby ratified from April 6, 2013 to the date of adoption of this authorizing resolution.
- This Project does not require the use of additional funds and all other terms and conditions contained in the Redevelopment Grant Agreement authorized pursuant to Resolution 7R3-E adopted on March 4, 2009 shall remain in full effect and in accordance with the law.
STATEMENT
This resolution hereby ratifies and authorizes the Mayor and/or his designee, the Deputy Mayor/Director of the Department of Economic and Housing Development to enter into and execute a Second Amended Redevelopment Grant Agreement with Brick City Development Corporation of 744 Broad Street, Suite 1110, Newark, New Jersey 07102, for the purpose of completing the Halsey Street Façade and other Building/Corridor Improvements by amending the term of the Grant Agreement from May 7, 2009 through April 6, 2013 to May 7, 2009 through April 6, 2015, all other terms and conditions contained in the Redevelopment Grant Agreement shall remain in full effect and in accordance with the law.