Title
ORDINANCE AUTHORIZING THE CITY OF NEWARK TO ACQUIRE THE PROPERTY LOCATED AT 358-360 SEVENTH AVENUE WEST AS IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK AS BLOCK 1908 LOT 4, FOR THE PURCHASE PRICE OF $199,000.00 (CITY MUST PROVIDE TEMPORARY HOUSING TO FAMILIES DISPLACED UPON FINDING OF LEAD ABOVE PERMITTED LEVELS IN THEIR HOMES WHILE CITY REMOVES SUCH LEAD.
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WHEREAS, pursuant to the Local Lands and Buildings Law (N.J.S.A. 40A:12-1 et seq.) the City of Newark is permitted to acquire real property for the performance of its functions or other public purposes; and
WHEREAS, pursuant to a grant received from the Kresge Foundation, the City must provide temporary housing to families displaced upon a finding of lead above permitted levels in their homes while the City removes such lead; and
WHEREAS, the City, through the Department of Child and Family Well-Being, has determined that the property commonly known as 358-360 Seventh Avenue West, as shown on the official tax map of the City of Newark as Block 1908 Lot 4 (the “Property”) would be suitable for this purpose; and
WHEREAS, through negotiations the current owners, 360 7th AVE LLC , whose address is 358-360 Seventh Avenue West, Newark, New Jersey, have agreed to sell the Property to the City for the purchase price of $199,000.00 (the “Purchase Price”); and
WHEREAS, the Municipal Council feels that the acquisition of the Property for the Purchase Price set forth above is in the best interests of the City; and
WHEREAS, this is the fourth and last property to be purchased under the Kresge Foundation; and
WHEREAS, any nominal unspent closing funds less than $3,000.00 escrowed in attorney trust account to be spent according to the terms of the Kresge Grant; and
WHEREAS, the Director of the Department of Child and Family Well-Being shall issue a letter to the Closing Attorney to spend the nominal unspent closing escrow funds, less than $3,000.00, in accordance with the terms an...
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