Title
ORDINANCE AUTHORIZING THE EXCHANGE OF CERTAIN CITY-OWNED PARCELS OF REAL PROPERTY IDENTIFIED AS 730-736 M. L. K. BLVD. AND 738-744 M.L.K. BLVD. (BLOCK 123, LOTS 12 AND 7) (CENTRAL WARD); 18 MILLER STREET (BLOCK 2800, LOT 27) (SOUTH WARD) WITH THE NEWARK HOUSING AUTHORITY (NHA), FOR NHA OWNED PARCELS IDENTIFIED AS 56-84 PRINCE STREET (BLOCK 2503, LOT 1) (CENTRAL WARD); 139 COURT STREET (BLOCK 2508, LOT 21) (CENTRAL WARD) AND 182, 180 AND 178 BRUNSWICK STREET (BLOCK 2800, LOTS 30, 31 AND 32) (SOUTH WARD).
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WHEREAS, the City is the owner of the following parcels of real property each located in the City of Newark, Essex County, New Jersey: 730-736 and 738-744 Dr. Martin Luther King, Jr. Boulevard, Block 123, Lots 7 and 12 (Central Ward); and 18 Miller Street, Block 2800, Lot 27 (South Ward) (the City Property); and
WHEREAS, the Newark Housing Authority (NHA) is the owner of the following parcels of real property located in the City of Newark, Essex County, New Jersey: 56-84 Prince Street, Block 2503, Lot 1 (Central Ward); 139 Court Street, Block 2508, Lot 21 (Central Ward); and 178-182 Brunswick Street, Block 2800, Lots 30, 31 and 32 (South Ward) (the NHA Property); and
WHEREAS, pursuant to N.J.S.A. 40A:12A-39(a) the City is authorized to sell any parcel of real property with or without consideration, as it may determine, and without appraisal, public notice, advertisement or bidding, and thus by ordinance to a Housing Authority; and
WHEREAS, pursuant to N.J.S.A. 40A:12-5, the City is authorized to acquire real property by Ordinance; and
WHEREAS, through negotiations with the NHA, the City and the NHA have determined that it is in the best interest of each to exchange the City Property for the NHA Property for the sum of One Dollar ($1.00).
NOW, THEREFORE BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Mayor, and/or his designee, the Deputy Mayor/Director of the Department of Economic and Housing Development is hereby authorized to enter into a Purchase and Sale Agreement with The Newark Housing Authority in the same form as that attached hereto (the Contract) for the exchange of the below properties.
Property to be conveyed to NHA by the City:
Address Block/Lot Ward
730-736 & 738-744
Dr. Martin Luther King, Jr. Blvd. Block 123, Lots 12 and 7 Central
18 Miller Street Block 2800, Lot 27 South
Property to be conveyed to the City by NHA:
Address Block/Lot Ward
56-84 Prince Street Block 2503, Lot 1 Central
139 Court Street Block 2508, Lot 21 Central
178-182 Brunswick Street Block 2800, Lots 30, South
31 and 32
2. The Deputy Mayor/Director of the Department of Economic and Housing Development or his designee is hereby authorized to: (i) execute a deed in the form required under the Contract in order to transfer title of the City Property to NHA, (ii) to accept and record a deed in the form required under the Contract conveying title of the NHA property to the City, and (iii) to effectuate any other terms and conditions contained in the Contract annexed hereto. Such authorized officers are hereby further authorized to take such additional actions as may be necessary to consummate the transactions contemplated by the Contract.
3. A copy of the fully executed Contract and deeds shall be placed on file in the Office of the City Clerk by the Deputy Mayor/Director of the Department of Economic and Housing Development.
4. This Ordinance shall take effect upon final passage and publication in accordance with the laws of the State of New Jersey.
STATEMENT
Passage of this ordinance shall authorize the City of Newark to execute a Purchase and Sale Agreement (the Contract) with the Newark Housing Authority for the exchange of certain City-owned parcels of real property identified as 730-736 and 738-744 Dr. Martin Luther King, Jr. Boulevard, Block 123, lots 12 and 7 (Central Ward); and 18 Miller Street, Block 2800, lot 27 (South Ward) with the Newark Housing Authority (NHA), for NHA owned parcels identified as 56-84 Prince Street, Block 2503, Block 2503, lot 1 (Central Ward); 139 Court Street, Block 2508, lot 21 (Central Ward) and 178-182 Brunswick Street, Block 2800, lots 30, 31 and 32 (South Ward)