Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Pre-suit Settlement of Outstanding Water Charges
Docket No: N/A
Claimant: Maggyco Incorporated, K.C.W. Associates, LP
Claimant's Attorney: Gemma Giantomasi, Esq.
Attorney's Address: Chiesa, Shahinian & Giantomasi PC.
One Boland Drive, West Orange, New Jersey 07052
Settlement Amount: $120,000.00
Funding Source: Monies to be paid to the Department of Water and Sewer Utilities
Additional Comments:
This proposed settlement resolves outstanding water charges and results in payment to the Department of Water and Sewer Utilities in the amount of $120,000.00.
Invitation: Corporation Counsel, November 1, 2016
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WHEREAS, Maggyco, Incorporated, K.C.W. Associates, LP (hereinafter referred to as Maggyco), is the owner of a large parcel of commercial property with commercial buildings on the property commonly referred to as: 50 Virginia Street, 23 Virginia Street, and 10-12 Virginia Street in Newark, New Jersey, located on Block 3773, Lots 3, 2, 5 and 50 on the Official Tax Maps of the City of Newark, New Jersey (collectively, the "Property"); and
WHEREAS, Maggyco has several accounts with the City of Newark, Department of Water and Sewer Utilities, for the Property which include, the following account numbers: 13772, 13778, 17150, 17152, 17158, 17159 and 17161; and
WHEREAS, both Parties have conducted a thorough search and have determined that there are no other water and sewer accounts associated with Maggyco or the Property in the City of Newark; and
WHEREAS, since the Property was commercial, in addition to its regular usage, the City charged a flat monthly fire line fee to each account for water access in the event of a fire emergency. This monthly, flat fire line fee continued on each account unless and until the City is notified to deactivate the account(s); and
WHEREAS, at some time prior to April 30, 2014, the Property...
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