Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Pre-Litigation Settlement of Civil Claim
Docket No.: Not Applicable
Claimant: Tomco Construction, Inc.
Claimant's Attorney: Connell Foley, LLP, 56 Livingston Avenue, Roseland, New Jersey 07068
Settlement Amount: $400,000.00
Funding Source: Department of Economic and Housing Development
Additional Comments:
Body
WHEREAS, on June 15, 2005, the City of Newark (the "City") utilized the powers of Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq., to designate the entire City of Newark as an area in need of rehabilitation; and
WHEREAS, on August 7, 2013, the Municipal Council adopted Ordinance 6PSF-1, approving the Newark's River: Public Access and Redevelopment Plan along the Passaic River, which has been amended from time to time; and
WHEREAS, on February 28, 2018, the City's Department of Economic and Housing Development, advertised for bids for the Riverfront Park Expansion - Phase C Project, along the Passaic River; and
WHEREAS, on April 6, 2018, the Department of Economic and Housing Development received four (4) bids for the Riverfront Park Expansion - Phase C Project; and
WHEREAS, pursuant to the Local Public Contracts Law, N.J.S.A. 40A:11-1 et seq., the City accepted the bid proposal submitted by Tomco Construction, lnc., ("Tomco"); and
WHEREAS, the City and Tomco executed a contract for the Riverfront Park Expansion - Phase C Project on May 21, 2018; and
WHEREAS, a dispute has arisen regarding the work on the Riverfront Park Expansion - Phase C Project; and
WHEREAS, the City and Tomco have reached an agreement that resolves any and all current and future disputes between them pertaining to the Riverfront Park Expansion - Phase C Project pursuant to the terms of the Settlement Agreement attached hereto as Exhibit A; and
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