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ORDINANCE AUTHORIZING THE CITY OF NEWARK, SUBTENANT, TO ENTER INTO A SUBLEASE AGREEMENT WITH VILLAGE AT NEWARK URBAN RENEWAL, LLC, SUBLANDLORD, FOR A PORTION OF THE PREMISES COMMONLY KNOWN AS 250 CENTRAL AVENUE (BLOCK 398, LOT 11), FOR THE TERM OF MAY 15, 2013 TO MAY 14, 2018 FOR THE SUM OF $5.00, ($1.00 PER YEAR), FOR THE USE AS A MINI POLICE PRECINCT.
No Action Taken, June 18, 2014
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WHEREAS, the City of Newark Police Department, a non-profit corporation of the State of New Jersey, which has tax exempt status with respect to the State of New Jersey and the United States Federal Government, is in need of space to be used as a mini police precinct; and
WHEREAS, Village at Newark Urban Renewal, LLC, with a mailing address of 12700 Hill Country Boulevard, Suite T-200, Austin, Texas, 78738, leases the premises commonly known as 250 Central Avenue, Block 398, Lot 11, on the Official Tax Map and Tax Duplicates of the City of Newark, from Becker Newark, LLC. (the "Leased Premises"); and
WHEREAS, Village at Newark Urban Renewal, LLC, covenants and represents it is the record lessee of the aforementioned property and has the right and authority to enter into a Sublease Agreement with the City of Newark; and
WHEREAS, Village at Newark Urban Renewal, LLC, (Sublandlord) has agreed to sublease a portion of the Lease Premises, as more particularly described in the sublease agreement, in the form attached hereto, to the City of Newark Police Department (Subtenant) for a period of five years beginning on May 15, 2013 and ending on May 14, 2018, for the sum of $5.00, to be paid in equal yearly installments of $1.00.
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Mayor and/or his designees the Director of the Police Department and the Business Administrator are hereby authorized to enter into the Sublease Agreement, on behalf of the City of Newark, Subtenant, w...
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