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AN ORDINANCE AUTHORIZING DOWNTOWN DISTRICT AS AN URBAN GROWTH ZONE, AND REQUESTING THE STATE OF NEW JERSEY TO EXPLORE THE CREATION OF AN "OFFICE OF TRANSFORMATIVE PROJECTS" THAT MAY EXERCISE JURISDICTION OVER LAND USE REGULATIONS AND BUILDING PERMIT APPROVALS FOR TRANSFORMATIVE CORPORATE HEADQUARTERS PROJECTS.
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WHEREAS, the City of Newark has the infrastructure to attract major corporate development opportunities, which can create thousands of job opportunities; and
WHEREAS, large corporations have approached the City with proposed development projects indicating the creation and economic development and employment opportunities for the City residents and the greater metropolitan area; and
WHEREAS, the Department of Economic and Housing Development has determined that it is in the City's economic interest to encourage such development opportunities within the City of Newark; and
WHEREAS, the City of Newark ("City") is authorized pursuant to the N.J.S.A. 40:55-21.15 to "determine that an area or areas within such municipality be designated an urban growth zone" as defined in and for all purposes of the New Jersey Economic Development Authority Act, under N.J.S.A. 34:1B-1 et seq; and
WHEREAS, the Municipal Council of the City of Newark (the "Municipal Council") intends to designate the Downtown District as defined by the Newark Master Plan as an Urban Growth Zone pursuant to the "New Jersey Economic Development Authority Act," N.J.S.A. 34:1B-1 et seq.; and
WHEREAS, N.J.S.A. 34:1B-5(x) establishes that the New Jersey Economic Development Authority ("NJEDA"), when authorized by the Governing Body, may exercise jurisdiction over an urban growth zone, to construct, cause to be constructed, or to provide financial assistance to projects in an urban growth zone which shall be exempt from the terms and requirements of the local land use ordinances and regulations of the municipality.
NOW, THEREFORE, BE IT ORDAINED BY...
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