Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Settlement of Civil Litigation and First Amendment to Litigation Agreement
Docket No.: 2:11-cv-02057-KM-JBC, Virginia Street Fidelco, LLC, City of Newark, et al. v. Orbis Products Corporation, et al. (City of Newark is a Co-Plaintiff)
Defendants:
1) Estate of Robert L. Amaducci, William R. Amaducci and Flaroma, Inc.; and
2) Estate of Louis Amaducci; and
3) Estate of Elena Duke Benedict
Defendants' Attorneys:
1) John M. Scagnelli, Esq., Scarinci & Hollenbeck, 1100 Valley Brook Avenue, Lyndhurst, New Jersey 07071; and
2) Frank E. Derby, Esquire, Post Office Box 162, Blawenburg, New Jersey 08504; and
3) Larry Ross, Esquire, Bressler, Amery & Ross, 325 Columbia Turnpike, Florham Park, New Jersey 07932-1213
Settlement Amount: $450,000.00
Funding Source: Settlement amount to be paid by Defendants, collectively
Additional Comments:
The settlement amount will be paid to Virginia Street Fidelco, LLC, to defray costs of remediating and investigating contamination.
The City will control the use of funds for agreed upon limited purposes.
Invitation: Corporation Counsel (date to be entered by Clerk's Office)
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WHEREAS, on or about July 3, 2008, the City and Virginia Street Fidelco, LLC, 225 Milburn Avenue, Suite 202, Milburn, New Jersey 07041 ("Fidelco" or "Redeveloper") executed a Redevelopment Agreement (the "Redevelopment Agreement") providing for the conveyance, remediation and redevelopment of certain City-owned real property known as 41-63 McClellan Street and 55 Virginia Street, Newark, New Jersey, designated as Block 3773, Lots 15, 41, 43 and 53, on the Tax Map of the City (hereinafter collectively the "Property" or "Site"), as authorized by Resolution 7Rcz(AS) adopted by the Municipal Council of the City on June 20, 2001; and
WHEREAS, on July 3, 2008, McClellan Street Urb...
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