Title
Dept/ Agency: Economic and Housing Development Department
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Redevelopment Agreement
Purpose: Authorize Execution of an Agreement for the Sale and Redevelopment of Land Between the City of Newark and Kawaida Towers JV Partners, LLC
Entity Name: Kawaida Towers JV Partners, LLC
Entity Address: 8 Lombardy Street, Suite 320, Newark, New Jersey 07102
Contract Amount: $500,000.00
Funding Source:
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP (X ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
17-21 Halsey Street/Block 20/Lot 1/Central Ward
Additional Information:
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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"), authorizes municipalities to participate in the redevelopment and improvement of areas that are in need of redevelopment or rehabilitation; and
WHEREAS, in order to stimulate the reinvigoration of the City, by Resolution 7Rdo (AS) adopted on June 15, 2005, the entire City was designated as an area in need of rehabilitation pursuant to the Redevelopment Law; and
WHEREAS, on January 21, 2009, pursuant to Ordinance 6PSF-a, the Municipal Council of the City adopted the Broad Street Station Redevelopment Plan ("Redevelopment Plan"); and
WHEREAS, the City is the owner of certain real property designated as Block 20, Lot 1, as shown on the official tax map of the City (collectively, the "Property" or "Project Area") within the Redevelopment Plan area; and
WHEREAS, on November 4, 2025, the City issued a Request for Qualifications ("RFQ") for prospective redevelopers for the Kawaida Towers Redevelopment Project within the Redevelopment Plan area; and
WHEREAS, Herita...
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