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AN ORDINANCE (1) AMENDING ORDINANCE 6PSF-C, ADOPTED ON NOVEMBER 1, 2023, AND (2) AUTHORIZING THE THIRD AMENDMENT OF THE AGREEMENT FOR THE SALE OF LAND AND REDEVELOPMENT OF THE CITY OF NEWARK PROPERTIES IDENTIFIED ON THE CITY OF NEWARK TAX MAP AS BLOCK 318, LOTS 1, 4 AND 8.
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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 "Redevelopment Law"), provides a process for municipalities to participate in the redevelopment and improvement of areas in need of redevelopment; 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 Redevelopment Law; and
WHEREAS, on August 17, 2005 the Municipal Council of the City of Newark (the "Municipal Council") approved Ordinance 6S&Fc(S), adopting the West Ward Redevelopment Plan, including any amendments thereto, for the Redevelopment Area (the "Redevelopment Plan"); and
WHEREAS, the City is the owner of property located at 432-434 So. Orange Ave., 436-440 So. Orange Ave., 442-446 So. Orange Ave., 454-462 So. Orange Ave., and 476 So. Orange Ave. and identified as Lots 1, 4 and 8 in Block 318, Lot 21 in Block 319, and Lot 4 in Block 320 on the tax maps of the City of Newark in the County of Essex, State of New Jersey (the "Property"); and
WHEREAS, the City has determined that the Property is no longer needed for any public use and that redevelopment of the Property will contribute to the social and economic improvement of the West Ward in accordance with the intent, goals and objectives of the Redevelopment Plan; and
WHEREAS, the 432-446 South Orange Avenue, LLC (the "Assignor") previously proposed to purchase and redevelop the Property by constructing a health care center, veterans housing facility with ground floor r...
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