Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Settlement of Civil Litigation
Docket No.: ESX-L-3465-09
Claimant: Hess Corporation
Claimant's Attorney: Waters, McPherson & McNeill, P.C.
Attorney's Address: 300 Lighting Way, 7th Floor, Secaucus, New Jersey 07094
Settlement Amount: No Municipal funds required of the City
Funding Source:
Additional Comments:
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WHEREAS, a Settlement Agreement and Mutual Release (the “Agreement”) is proposed by and among plaintiff, Hess Corporation (“Hess”) and defendant, the City of Newark (“City”) and Hess’s subsidiary Hess NEC, LLC (“Hess NEC”) (Hess, the City, and Hess NEC being referred to collectively as the “Parties”) on behalf of themselves and their past, present and future heirs, successors, representatives, assigns, predecessors, subsidiaries, parent organizations, affiliates, employees, agents, officers and directors; and
WHEREAS, Hess instituted an action entitled Hess Corporation v. City of Newark, and the Newark Central Planning Board, Docket No. ESX-L-3465-09 (the “Action”), in which Hess filed a complaint in lieu of prerogative writs against the City and the Newark Central Planning Board (“Planning Board”) challenging the validity of Resolution 7R3-c(S1)031009 wherein certain property owned by Hess located within the Port Newark area of the City, at 678-696 Doremus Avenue and identified as Block 5066, Lot 16, on the Tax Map of the City (the “Hess Property”) was found to be in an “area in need of redevelopment” pursuant to Section 5 of the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. (the “LRHL”); and
WHEREAS, in an effort to amicably resolve the Action, the Parties entered into a Memorandum of Understanding (“MOU”) dated November 29, 2010 to allow Hess to explore development opportunities on the Hess Property and/or other properties, including other property owned by Hess, so long as the City agree...
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