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AN ORDINANCE AUTHORIZING A LEASE BETWEEN THE CITY OF NEWARK, LANDLORD, AND Down Neck Community Sports Group Inc., TO LEASE 226 Rome Street, Newark, NJ 07102, (Block 2052, Lot 30) consisting of approximately 60,300 square feet and commonly known as Ironbound Recreation Center and all other improvements, personal property and fixtures located thereon (the “Building”) together with an improved athletic field also referred to as the “B Field” FOR THE SUM OF ONE DOLLAR ($1.00), FOR A PERIOD COMMENCING March 1, 2012 and ending on February 28, 2017.
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WHEREAS, the City of Newark, a municipal corporation of the State of New Jersey, is the fee owner of that certain parcel of land having a street address of 226 Rome Street, Newark, NJ 07102, Newark New Jersey, also known on the Official Tax Map and Tax Duplicates as Block 2052, Lot 30; and
WHEREAS, Down Neck Community Sports Group Inc., is a non-profit corporation, having an address at 23 Hanover Street Newark, NJ 07105; and
WHEREAS, Down Neck Community Sports Group Inc. is in need of renting space from the City of Newark for the purpose of providing Youth Programming in the areas of recreational sports, academic classes, social and civil and cultural programs and for the general use of the community as a whole; and
WHEREAS, the City of Newark wishes to enter into a Lease Agreement with Down Neck Community Sports Group Inc. to lease 226 Rome Street, Newark New Jersey, also known on the Official Tax Map and Tax Duplicates as Block 2052, Lot 30, known and designated as the Ironbound Recreation Center and all other improvements, personal property and fixtures located thereon (the “Building”) together with an improved athletic field also referred to as the “B Field” (the “Property”) (collectively referred to herein as the “Demised Premises”), pursuant to the terms and conditions of a Lease Agreement, which is attached hereto and made a part of this Ordinance; and
WHEREAS, the leasing of the Demised Premises i...
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