Title
AN ORDINANCE AUTHORIZING THE MAYOR OF THE CITY OF NEWARK, AND/OR HIS DESIGNEE, THE DEPUTY MAYOR/DIRECTOR OF THE DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT TO ENTER INTO AND EXECUTE THE SALE AND TRANSFER OF THE CITY OF NEWARK PROPERTIES, COMMONLY KNOWN AS 237 SOUTH STREET, NEWARK, NEW JERSEY 07114, IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 1146, LOT 17 AND SUBDIVISION OF LOT 17 INTO LOTS 17.01 AND 17.02, PURSUANT TO AN AGREEMENT FOR SALE AND REDEVELOPMENT OF LAND.
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WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., as amended and supplemented (the "Act"), authorizes municipalities to participate in the redevelopment and improvement of areas that are in need of redevelopment or rehabilitation; and
WHEREAS, by Ordinance 6S&Ff dated June 6, 2001, the Municipal Council adopted the "East Ward Redevelopment Plan and Feasibility of Relocation for Various City-Owned Parcels throughout the East Ward" (the "Redevelopment Plan"), which provided for the facilitation of the redevelopment of certain City-owned parcels in the East Ward for residential, commercial, and industrial use; and
WHEREAS, in order to stimulate the reinvigoration of the City, by Resolution 7Rdo(AS) adopted by the Municipal Council on June 15, 2005, the entire City of Newark was designated as an area in need of rehabilitation pursuant to the Act; and
WHEREAS, by Ordinance 6S&Fe dated September 21, 2005, the Municipal Council adopted a First Amendment to the East Ward Redevelopment Plan, which amended the Redevelopment Plan to provide for the automatic inclusion of all City-owned parcels within the East Ward into the Redevelopment Plan; and
WHEREAS, said Redevelopment Plan complies with the requirements of all applicable State and Federal statutes and regulations promulgated thereunder; and
WHEREAS, the Redevelopment Plan is applicable to the development and redevelop...
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