Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Settlement of Civil Litigation
Docket No.: Civil Action No.ESX-C-291-24
Claimant: 21st Associates, LLC
Claimant's Attorney: John T. Ambrosio, Esq., 105 Grove Street, Suite 1, Montclair, New Jersey 07042
Settlement Amount: N/A
Funding Source: N/A
Additional Information:
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WHEREAS, Plaintiff, captioned 21st Associates v. City of Newark, Civil Action No. ESX-C-291-24, in which the plaintiff sought recovery for damages allegedly sustained in 2023 for demolition to property; and
WHEREAS, a settlement proposal has been made to resolve this litigation in its entirety by allowing the Plaintiff to redevelop the property as-of-right according to the Newark Zoning and Land Use Regulations and the execution of a Settlement Agreement and Release; and
WHEREAS, to avoid the costly expense of litigation, the Parties and the City's Corporation Counsel desire to amicably resolve this matter with extension of the Redevelopment Agreement and the Right of Reverter Clause for twenty-four (24) months, in exchange for Plaintiff's execution of the Settlement Agreement and Release (attached) as a full and complete release of the matter; and
WHEREAS, the Corporation Counsel, based upon all facts and circumstances presented, deems it is in the best interest of the City of Newark to resolve said matter by payment of the proposed Settlement Sum and execution of the Settlement Agreement and Release.
NOW, THEREFORE, BE IT RESOLVED BY MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Corporation Counsel is hereby authorized on behalf of the City of Newark to execute and accept the terms of the Settlement Agreement and Release, attached hereto.
2. Upon receipt by the Corporation Counsel of all documents deemed necessary and approval by Municipal Council, the Deputy Mayor/Director of Economic and Housing Development shall extend the Re...
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