Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Hold Harmless Agreement
Purpose: To allow construction project to proceed.
Entity Name: Broad Street Urban Renewal, LLC
Entity Address: 570 Commerce Boulevard, Carlstadt, New Jersey 07072
Location: 349-377 Broad Street and 379-397 Broad Street, Newark, New Jersey 07104
Additional Information: Block 451, Lot 2 and Block 50, Lot 2
For the Department of Engineering and Department of Water and Sewer Utilities.
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WHEREAS, Broad Street Urban Renewal, LLC (the "Entity") has received approval from the City of Newark (the "City") to construct two hundred ninety-nine (299) residential units and associated site amenities, including driveways and parking (the "Project") for the property located at 349-377 Broad Street and 379-397 Broad Street, Newark, New Jersey 07104 and identified on the Official Tax Map of the City of Newark, as Block 451, Lot 2 and Block 50, Lot 2 (the "Property"); and
WHEREAS, there are existing stairs on the Property that encroach into the public right of way; and
WHEREAS, the City maintains certain underground water and sewer mains, which currently exist beneath the Property and for which the City has an existing utility easement reservation pursuant to Ordinance 6TB adopted by the Newark Municipal Council on October 2, 1957; and
WHEREAS, Newark Municipal Council is desirous of the Entity proceeding with the Project and requires a Hold Harmless Agreement with the Entity for the benefit of the City of Newark and authorizing a Hold Harmless for the benefit of the Entity in the event the City must repair or replace the City's water and sewer main during the development by the Entity.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Municipal Council supports the construction of the Project, two hundred ninety-nine (299)...
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