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AN ORDINANCE RATIFYING AND AUTHORIZING THE EXECUTION OF A LEASE BETWEEN THE CITY OF NEWARK AND ASPIRA, INC. of New Jersey, 390 broad Street, Newark, New Jersey 07104, FOR THE PREMISES COMMONLY KNOWN AS 195-205 BLOOMFIELD AVENUE, BLOCK 536, LOT 1, FOR THE SUM OF ONE ($1.00) PER YEAR FOR A PERIOD OF ONE (1) YEAR, COMMENCING JANUARY 1, 2013 TO DECEMBER 31, 2013, with an option to renew annually for up to five (5) years, terminating not later than December 31, 2018, subject to the annual approval of the City of Newark Municipal Council. ( NORTH WARD)
NOTE: Public Hearing to be held on April 17, 2013
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WHEREAS, the City of Newark owns the premises commonly known as 195-205 Bloomfield Avenue, Newark, New Jersey, being Block 536, Lot 1 on the Official Tax Maps and Tax Duplicate (year 2012) of the City of Newark, New Jersey; and
WHEREAS, Aspira, Inc. of New Jersey, is a nonprofit corporation of the State of New Jersey with tax exempt status with respect to both the State of New Jersey and the Federal Government, and qualifies, pursuant to N.J.S.A. 40A: 12-14 (c), to enter into a lease with the City of Newark for nominal consideration; and
WHEREAS, Aspira, Inc. of New Jersey, is serving a public purpose of a) providing the Media Arts and Boxing Program and any activities in connection thereto, including but not limited to modifications and maintenance of the property, serving approximately seventy-five (75) people, and b) retail spaces shall be used as office space to provide 1) athletic support services to the community and 2) financial counseling, empowerment and education services to low income residents; and
WHEREAS, the City of Newark, New Jersey, desires to enter into a Lease Agreement with Aspira, Inc. of New Jersey, for a period commencing January 1, 2013 to December 31, 2013, for a nominal consideration in accordance with the Terms and Conditions of N.J.S.A. 40A:12-14 (c) and the Lease Agreement, attached hereto and made a part hereof, with an opt...
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