Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitation of Frank R. Lautenberg Post Office and Courthouse
Entity Name: KMS Development Partners, LP
Entity Address: 1600 Arch Street, Suite 300, Philadelphia, Pennsylvania 19103-2028
Sale Amount: $N/A
Cost Basis: ( ) $ PSF ( ) Negotiated ( x ) N/A ( ) Other:
Assessed Amount: $N/A
Appraised Amount: $N/A
Contract Period: December 31, 2015, unless extended by both parties
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( x ) n/a
List of Property:
(Address/Block/Lot/Ward)
2 Federal Square, Newark, New Jersey (AKA 13-57 Walnut Street) /Block 875/ Lot 54/East Ward
Additional Information:
Resolution 7R3-E 060712 authorized a collaboration agreement between the City and KMS for the rehabilitation of the Court House and Post Office through a subsequent purchase-lease arrangement.
Invitation: Director of Economic & Housing Development, March 4, 2014
Deferred 7R3-c 030514
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WHEREAS, the United States Postal Service ("USPS") owns and controls the Frank R. Lautenberg Post Office and Courthouse located at 2 Federal Square, Newark, New Jersey (the "Building") and the parcel of land upon which it is located, and desires to (a) make available a portion of the Building to the United States General Services Administration ("GSA") for use and occupancy by the United States federal court system and other federal agencies and (b) continue to utilize a portion of the Building for USPS purposes; and
WHEREAS, KMS Development Partners, LP, a company organized and existing under the laws of the Commonwealth of Pennsylvania ("KMS"), has pr...
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