Title
AN ORDINANCE AUTHORIZING A CONTRACT FOR SALE OF REAL ESTATE TO BRANDYWINE ACQUISITION AND DEVELOPMENT, LLC, AS THE DESIGNATED REDEVELOPER OF BLOCK 2706, LOTS 1, 2, 3, 4, 5, 6, 54, 56 AND 58 FOR THE AMOUNT OF $282,600.00, FOR THE REDEVELOPMENT OF THE CRIME AND BALLISTICS FACILITY SITE FOR THE CITY OF NEWARK. (SOUTH WARD)
body
WHEREAS, on June 15, 2005, pursuant to Resolution 7Rdo(AS), adopted by the Municipal Council, the entire City of Newark (the "City") was designated an "area in need of rehabilitation" as defined by the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., including the lots located at a 706-714 Hunterdon Street, 247 Peshine Avenue, 249-251 Peshine Avenue, 253-255 Peshine Avenue and 257 Peshine Avenue, also known as Block 2706, Lots 1, 2, 3, 4, 5, 6, 54, 56 and 58 on the Official Tax Map of the City of Newark (the "Property"); and
WHEREAS, on January 5, 2017, pursuant to Ordinance 6PSF-b, adopted by the Municipal Council, the City of Newark adopted the South Bergen Street Redevelopment Plan (the "Redevelopment Plan"), as last amended by Ordinance 6PSF-e on April 7, 2020, which governs the zoning of the Property; and
WHEREAS, the City wishes to construct a new state-of-the-art Crime and Ballistics Facility (the "Crime and Ballistics Facility"), for the use of its Public Safety Department; and
WHEREAS, a companion legislation will be presented to the Municipal Council at the same meeting this legislation is presented designating Brandywine Acquisition and Development, LLC ("Brandywine") as the redeveloper of the Property that is to constitute the Crime and Ballistics Facility site and approved the execution of a Redevelopment Agreement with Brandywine (the "Redevelopment Agreement"); and
WHEREAS, a companion legislation will be presented to the Municipal Council at the same meeting this legislation is presented authorizing the execution of a Capital Sale/Leaseback Agreement (the "Sale/Lease...
Click here for full text