Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To authorize the execution of an Amendment to Redevelopment Agreement and Designation of New Redeveloper and Transfer of Property/Project to New Redeveloper.
Entity Name: May Newark, LLC
Entity Address: 32 Cross Street, Suite 301, Lakewood, New Jersey 08701
Sale Amount: $0.00
Cost Basis: (X) PSF ( ) Negotiated (X) N/A ( ) Other: Appraised amount
Assessed Amount: N/A
Appraised Amount: N/A
Contract Period: N/A
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
List of Property:
(Address/Block/Lot/Ward)
1155-1157 McCarter Hwy Central Block 9 Lot 6
450-466 Broad St Rear Central Block 26 Lot 1
5-55 Division Street Central Block 26 Lot 15.01
2-28 Division Street Central Block 27 Lot 1.01
30-42 Division Street Central Block 27 Lot 1.02
44-56 Division Street Central Block 27 Lot 1.03
Additional Information:
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WHEREAS, in order to stimulate the reinvigoration of the City, by Resolution 7Rdo(AS) adopted by the Municipal Council on June 15, 2005, the entire City of Newark was designated as an area in need of rehabilitation pursuant to the Act; and
WHEREAS, by Ordinance 6PSF-a adopted on January 21, 2009, the Municipal Council adopted the Broad Street Station District Redevelopment Plan (as amended from time to time, the "Broad Street Redevelopment Plan"), which provided for the redevelopment of areas surrounding the Broad Street New Jersey Transit Commuter Rail Station; and
WHEREAS, the Municipal Council approved the Newark's River: Public Access & Redevelopment P...
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