Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Resolution Endorsing
Purpose: Resolution in Support of The Kintock Group of New Jersey Inc.'s, 580 Virginia Avenue, Suite 250, Fort Washington, Pennsylvania 19034, application for an additional $1,000,000.00 loan, for a total of $2,000,000.00, from New Jersey Economic Development Authority's Local Development Financing Fund for acquisition of a correctional and re-entry facility with maximum capacity of 716 residential beds located in the EWR/Airport Support Zone at 37-47 Legal Street, 19-27 Meeker Avenue, 10-16 Fenwick Street, and 32-38 Fenwick Street, and 40-58 Fenwick Street, Newark, New Jersey 07114
Additional Information:
Resolution 7R3-c, adopted by the Municipal Council on November 2, 2016, in support of an application for $1,000,000.00 loan from the New Jersey Economic Development Authority's Local Development Financing Fund.
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WHEREAS, The Kintock Group of New Jersey, Inc. (hereinafter referred to as the "Sponsor") is an operator of residential corrections programs in Newark since 1994; and
WHEREAS, the Sponsor provides a variety of programs to help participants reenter the workplace through employment education and placement, substance abuse education and treatment, cognitive behavior therapy, and life skills education; and
WHEREAS, the Sponsor currently owns that certain parcel of real property shown on the official tax map of the City of Bridgeton as Block 189, Lots 5 and 7.01, and commonly known as 4S Industrial Boulevard, Bridgeton, New Jersey 08302 and 3w Industrial Boulevard, Bridgeton, New Jersey 08302 (hereinafter referred to as the "Bridgeton Properties"); and
WHEREAS, the Sponsor currently leases that certain parcel of real property shown on the official tax map of the City of Newark as...
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