Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Resolution Designating Redeveloper
Purpose: Resolution Designating 370 Orange Street, LLC as the Conditional Redeveloper of 141, 143, 145, 147, 147 1/2, 149, 149 1/2, 151, 153 and -155 1st Street and 370-386 Orange Street for a period of 180 days
Additional Information:
141, 143, 145, 147, 147 1/2,, 149, 149 1/2, 151, 153 and -155 1st Street and 370-386 Orange Street/Block 1882, Lots 23, 25, 26, 27, 28, 29, 30, 31, 32, 37 and 50/ Central Ward
body
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 rehabilitation; and
WHEREAS, on June 15, 2005, the City Municipal Council adopted Resolution 7RDO(AS) designating the entire City as an "Area in Need of Rehabilitation" pursuant to the Redevelopment Law; and
WHEREAS, the City of Newark ("City") is the fee title owner of 141, 143, 145, 147, 147 1/2, 149, 149 1/2, 151, 153 and 155 1st Street, identified on the City tax map as Block 1882, Lots 23, 25, 26, 27, 28, 29, 30, 31, 32, and 50 (the "City Owned Lots"); and
WHEREAS, 370 Orange Street, LLC (the "Entity") is the fee title owner of 370-386 Orange Street, identified on the City tax map as Block 1882, Lot 37 (the "Non-City Owned Lot"); and
WHEREAS, on August 17, 2015, the City of Newark Municipal Council adopted Ordinance 6S&FE(s), approving the First Amendment to the Central Ward Redevelopment Plan which included without limitation the City-Owned Lots and the Non-City Owned Lot (collectively referred to as the "Area;" and
WHEREAS, the City desires to conditionally designate the Entity as the "Redeveloper" of the Area pursuant to the Redevelopment Law for a ...
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