Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Memorandum of Understanding (MOU)
Purpose: To authorize the execution of a Memorandum of Understanding with RPM Development, LLC related to the construction of a basketball court and playground on the property located at 197 and 199 North 13th, Street Newark, New Jersey 07107, being Block 1940, Lots 51 and 52 on the Official Tax Maps and Tax Duplicate (2017) of the City of Newark (West Ward)
Entity Name: RPM Development, LLC
Entity Address: 77 Park Street, Montclair, New Jersey 07042
Operating Budget: N/A
Funding Source: N/A
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Additional Information:
body
WHEREAS, the City of Newark's Department of Economic and Housing Development (City) is in the process of entering into a Lease Agreement with Mayor Real Estate, LLC, the record owner of the property located at 197 and 199 North 13th, Street Newark, New Jersey 07107, being Block 1940, Lots 51 and 52 on the Official Tax Maps and Tax Duplicate (2017) of the City of Newark ("Leased Premises"); and
WHEREAS, under the terms of the Lease Agreement the City is permitted to use the Leased Premises for the sole purpose of building, maintaining and operating an approved basketball court and playground for use by children in the City and the surrounding areas; and
WHEREAS, RPM Development, LLC, founded in 1986 and one of the leading affordable housing developers in New Jersey with many of its projects located within the City, has generously agreed, at no cost to the City or anyone else, to perform all development and construction related activities related to the building of the above-referenced basket...
Click here for full text