Title
ORDINANCE RATIFYING AND AUTHORIZING THE MAYOR AND/OR HIS DESIGNEE, THE DEPUTY MAYOR/DIRECTOR OF THE DEPARTMENT OF ECONOMIC & HOUSING DEVELOPMENT TO ENTER INTO AND EXECUTE A LEASE AGREEMENT WITH LEADERS FOR LIFE, INC., 527 NORWICH COURT, PISCATAWAY TOWNSHIP, NEW JERSEY 08854, FOR THE PROPERTY LOCATED AT 84-86 CLINTON PLACE, NEWARK, NEW JERSEY 07108 (BLOCK 3035, LOT 10), FOR AN ANNUAL RENT OF ONE DOLLAR ($1.00), FOR A PERIOD COMMENCING OCTOBER 1, 2012 AND TERMINATING ON SEPTEMBER 30, 2013, WITH AN OPTION TO RENEW ANNUALLY FOR UP TO FIVE (5) YEARS, TERMINATING NO LATER THAN SEPTEMBER 30, 2018, SUBJECT TO NEWARK MUNICIPAL COUNCIL APPROVAL.
South Ward
Sponsor: Baraka
body
WHEREAS, the City of Newark owns the premises commonly known as 84-86 Clinton Place, being Block 3035, Lot 10 on the Official Tax Maps and Tax Duplicate (Year 2012) of the City of Newark, New Jersey (“Demised Premises”); and
WHEREAS, Leaders for Life, Inc., a non-profit corporation of the State of New Jersey (“Tenant”), located at 527 Norwich Court, Piscataway Township, New Jersey 08854, with tax exempt status with respect to both the State of New Jersey and the Federal Government, is serving a public purpose and qualifies, pursuant to N.J.S.A. 40A:12-14 (c), to enter into a lease with the City of Newark (“Landlord”); and
WHEREAS, the Landlord desires to enter into a Lease Agreement with the Tenant to lease the Demised Premises for a period commencing October 1, 2012 and terminating on September 30, 2013, with an option to renew annually for up to five (5) years, terminating no later than April 30, 2018, subject to the approval of the Newark Municipal Council; and
WHEREAS, the Demised Premises are not needed for use by the municipality; and
WHEREAS, the leasing of the Demised Premises is governed by the provisions of the Local Lands and Building Law, N.J.S.A. 40A:12-14 (c); and
WHEREAS, the Tenant shall continue to perform all necessary capital improvements to improve subject property ...
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