Title
ORDINANCE AUTHORIZING THE MAYOR, AND/OR HIS DESIGNEE, THE DEPUTY MAYOR/DIRECTOR OF THE DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT TO ENTER INTO AN AGREEMENT TO EXCHANGE LAND WITH CANDIDO COUTO, 56 PALM STREET/ WEST WARD, FOR THE EVEN EXCHANGE OF CERTAIN CITY-OWNED PROPERTY AT 697 N. 7TH STREET LOCATED IN THE NORTH WARD.
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WHEREAS, the City is the owner of the following parcel of real property located in the City of Newark, Essex County, New Jersey:
Address Block Lot Ward Size Sq. Feet
697 N. 7th Street 695 15 North 25X100 2,500.
(the "City Property"); and
WHEREAS, Candido Couto, having an address of 310 Chestnut Street, 3rd Flr., Roselle Park, New Jersey 07204, is the owner of the following parcel of real property located in the City of Newark, Essex County, New Jersey:
Address Block Lot Ward Size Sq. Feet
56 Palm Street 4199 104 West 25X100 2,500.
(the "Couto Property"); and
WHEREAS, pursuant to N.J.S.A. 40A:12-5(a)(1), the City of Newark is authorized to exchange real property by Ordinance; and
WHEREAS, through negotiations with Candido Couto, the City of Newark and Candido Couto have determined that it is in the best interest of each to evenly exchange the City Property for the Couto Property.
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Mayor, and /or his designee, the Deputy Mayor/Director of the Department of Economic and Housing Development is hereby authorized to enter into an Agreement to Exchange Land with Candido Couto in the form attached hereto (the "Agreement to Exchange Land") for the even exchange of the below properties.
Property to be conveyed to Candido Couto by the City of Newark
Address Block Lot Ward Sq. Feet
697 N 7th Street 695 15 North 25x100 2,500.
Property to be conveyed to the City of Newark by Candido Couto
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