Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Resolution Endorsing
Purpose: Support of The Kintock Group of New Jersey Inc., 580 Virginia Avenue, Suite 250, Fort Washington, Pennsylvania 19034, application for a $1,000,000.00 loan from New Jersey Economic Development Authority's Local Development Financing Fund for acquisition of a correctional and reentry facility with maximum capacity of 716 residential beds located in the EWR/Airport Support Zone at 37-47 Legal Street, 19-27 Meeker Avenue, 10-16 Fenwick Street, and 32-38 Fenwick Street, and 40-58 Fenwick Street, Newark, New Jersey 07114
Additional Information:
Block 3511, Lots 16, 26, 30, and 36; and Block 3510.01, Lot 40.
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WHEREAS, the Kintock Group of New Jersey, Inc. (hereinafter referred to as the "Sponsor") is an operator of residential corrections programs in Newark since 1994; and
WHEREAS, the Sponsor provides a variety of programs to help participants reenter the workplace through employment education and placement, substance abuse education and treatment, cognitive behavior therapy, and life skills education; and
WHEREAS, the Sponsor currently owns that certain parcel of real property shown on the official tax map of the City of Bridgeton as Block 189, Lots 5 and 7.01, and commonly known as 4S Industrial Blvd., Bridgeton, New Jersey 08302 and 3w Industrial Blvd., Bridgeton, New Jersey 08302 (hereinafter referred to as the "Bridgeton Properties"); and
WHEREAS, the Sponsor currently leases that certain parcel of real property shown on the official tax map of the City of Newark as Block 3511, Lots 16, 26, 30, and 36; Block 3510.01, Lot 40, and commonly known as 37-47 Legal St., 19-27 Meeker Ave., 10-16 Fenwick St., and 32-38 Fenwick St., Newark, New Jersey 07114, (hereinafter, the "Property"); and
WHEREAS, the Sponsor proposes to...
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