Title
AN ORDINANCE AUTHORIZING THE MAYOR, AND/OR HIS DESIGNEE, THE DEPUTY MAYOR/DIRECTOR OF THE DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT TO ENTER INTO AND EXECUTE AN AGREEMENT WITH BERGEN STREET PARTNERS, LLC FOR THE SALE AND REDEVELOPMENT OF THE CITY OF NEWARK PROPERTY IDENTIFIED ON THE CITY OF NEWARK TAX MAP AS BLOCK 3665, LOTS 1, 2, 3. 4, 5 AND 6 FOR THE AMOUNT OF THREE HUNDRED SIXTEEN THOUSAND EIGHT HUNDRED DOLLARS AND ZERO CENTS.
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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 of Newark (the "City"), by Resolution 7RDO(AS) adopted by the City Municipal Council on June 15, 2005, the entire City was designated as an area in need of rehabilitation pursuant to the Redevelopment Law; and
WHEREAS, the Municipal Council adopted Resolution 7R3-a(S) on January 13, 2015, which directed the Central Planning Board of the City of Newark (the "Planning Board") to conduct an investigation to determine if 285 parcels along the Bergen Street corridor between Madison Avenue and Weequahic Avenue (the "Study Area") qualified as an area in need of redevelopment under the Redevelopment Law; and
WHEREAS, the Planning Board determined that 65 of the 285 parcels qualify as Condemnation Areas in Need of Redevelopment under the LRHL; and
WHEREAS, the Municipal Council adopted Resolution 7R3-b on February 17, 2016, declaring 65 parcels as a Condemnation Area in Need of Redevelopment under the LRHL (the "Redevelopment Area"); and
WHEREAS, the Municipal Council thereafter adopted Ordinance 6PSF-b on January 5, 2017, the South Bergen Street Redevelopment Plan, as amended (the "Redevelopment Plan") governing the redevelopment of pro...
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