Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Leasing City-owned property
Purpose: To allow for the relocation of Anthony Devino and A. Devino, Inc. d/b/a/ Devino Used Trucks and Parts from 191-269 Doremus Avenue, Block 5016, Lot 30 to 38-42 Bay Avenue, Block 5088, Lot 30 to permit the redevelopment of an 870,000 square foot industrial and logistics center by Morris Doremus Avenue Associates, LLC., within the East Ward
Entity Name: Anthony Devino and A. Devino, Inc.
Entity Address: 190 Doremus Avenue, Newark, New Jersey 07105
Lease Amount: Calculation of annual Real Estate Taxes of the leased property, as outlined in the Lease Agreement.
Lease Period: Thirty (30) years
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Location of Property: 38-32 Bay Avenue, Newark, New Jersey
(Address/Block/Lot/Ward)
38-42 Bay Avenue /Block 5088/Lot 30 / East Ward
Additional Information:
This resolution authorizes a Lease Agreement between the City of Newark ("City") and Anthony Devino and A. Devino, Inc. d/b/a/ Devino Used Trucks and Parts ("Proposed Tenant") to allow for the relocation of Tenant and the redevelopment of an 870,000 square foot industrial and logistics center by Morris Doremus Avenue Associates, LLC., within the East Ward.
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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 "Act"), authorizes municipalities to participate in the redevelopment and improvement of areas in need of redevelopment; and
WHEREAS, in accordance with the criteria set forth in the Act, on June 15, 2005, the Municipal Council of the City of Newark accepted the recommendation of the Central Planning Board that the City of Newark in i...
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