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ORDINANCE AUTHORIZING THE MAYOR, AND/OR HIS DESIGNEE, THE DEPUTY MAYOR/DIRECTOR OF THE DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT TO ENTER INTO A LEASE AGREEMENT FOR WITH EL SID PROPERTIES, LLC ("EL SID") FOR THE PURPOSE OF RELOCATING CERTAIN PUBLIC SAFETY FACILITIES.
DEFERRED 6PSF-h 081920
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WHEREAS, by Resolution 7R3-a(S) adopted by the Municipal Council of the City of Newark ("Municipal Council") on August 17, 2010 (the "Original Redevelopment Agreement"), the City executed a Redevelopment Agreement with Doremus Newark II, LLC ("Doremus II"), which was authorized in connection with the redevelopment of certain properties pursuant to the East Ward Redevelopment Plan; and
WHEREAS, at the time of the execution of the Original Redevelopment Agreement, El Sid was a 50% member of Doremus II; and
WHEREAS, the original redevelopment project set forth in the Original Redevelopment Agreement to be undertaken by Doremus II included the acquisition and redevelopment of the City-owned parcel at Block 5074, Lot 1 (more commonly known as the "Central Steel Drum Site" or "Central Steel Site") and the redevelopment of the adjacent property owned by Doremus II located at Block 5074, Lots 5, 9, and 9.01 on the Tax Maps of the City of Newark (more commonly known as the "Motiva Site"); and
WHEREAS, the original project comprised a 200,000 sq. ft. industrial facility and a new gun range specifically for the use of the City's Department of Public Safety, to be relocated upon the Central Steel Site from the Motiva Site and utilized by the City for up to ninety-nine (99) years at $1/year (the "Original Project"); and
WHEREAS, in or about 2017, the City was advised that since the Effective Date of the Original Redevelopment Agreement, in December 2013, certain litigation commenced between the members of Doremus II, which the City is further advised resulted in a Confidential Settlement Agreement and Release (the "Settlement Agreement"...
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