File #: 13-1767    Version: 1 Name: CAPC RDA
Type: Resolution Status: Filed
File created: 9/13/2013 In control: Economic and Housing Development
On agenda: 3/11/2014 Final action: 3/11/2014
Title: Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelopment of Various Properties Entity Name: Community Asset Preservation Corporation Entity Address: 59 Lincoln Park, Suite 50, Newark, New Jersey 07102 Sale Amount: $ Cost Basis: ( X ) $ 2.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $ Appraised Amount: $ Contract Period: 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) REFER TO EXHIBITS A & B (Total Properties 156) Exhibit A, City Owned (21) Exhibit B, Privately Owned (135) Additional Information: Ordinance 6...
Sponsors: Council of the Whole
Title
Dept/ Agency:  Economic & Housing Development
Action:  (   ) Ratifying     (X) Authorizing     (   ) Amending
Type of Service:  Private Sale/Redevelopment
Purpose: Redevelopment of Various Properties
Entity Name:  Community Asset Preservation Corporation
Entity Address:  59 Lincoln Park, Suite 50, Newark, New Jersey 07102
Sale Amount: $
Cost Basis: ( X  ) $  2.00    PSF   (   ) Negotiated   (   ) N/A    (   ) Other:         
Assessed Amount: $                   
Appraised Amount: $                          
Contract Period:  
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)
  REFER TO EXHIBITS  A & B (Total Properties 156)
  Exhibit A, City Owned (21)
  Exhibit B, Privately Owned (135)                  
Additional Information:
Ordinance 6S&FC  032107; Authorized an Abandoned Property List
Ordinance 6PHS&FF 062106; Established the Affordable Housing Trust Fund
Resolution 7RG 110605; Established the Community and Economic Development Dedicated Trust Fund
Resolution 7RDO(AS) 061505; Designated the entire City an area in need of rehabilitation                    
body
 
WHEREAS, based upon the recommendation of the Central Planning Board, on June 15, 2005 the Municipal Council of the City of Newark (the "Municipal Council") adopted Resolution 7RDO (A.S.) 061505, designating the entire City as an area in need of rehabilitation in accordance with the provisions of the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq.  (the "LRHL"), and such designation became effective on June 17, 2005 upon the transmission of the resolution to the New Jersey Department of Community Affairs by the City Clerk; and
 
WHEREAS, subsequent to the designation of the City as an area in need of rehabilitation, the Municipal Council adopted redevelopment plans for each of the City's five wards governing the sale and rehabilitation of City-owned properties located within those wards; and  
 
WHEREAS, the LRHL authorizes municipalities to convey real property to redevelopers for purposes of implementing projects consistent with approved redevelopment plans; and
 
WHEREAS, the New Jersey Legislature adopted the Abandoned Properties Rehabilitation Act, N.J.S.A. 55:19-78 et. seq. (the "APRA") and, in adopting the APRA, made findings that abandoned properties, particularly those located within urban areas or in close proximity to occupied residences and businesses, create a wide range of problems for the communities in which they are located, fostering criminal activity, creating public health problems and otherwise diminishing the quality of life for residents and business operators in those areas and that abandoned properties diminish the property values of neighboring properties and have a negative effect on the quality of life of adjacent property owners, increasing the risk of property damage through arson and vandalism and discouraging neighborhood stability and revitalization; and
 
             WHEREAS, in furtherance of the powers granted to it under the APRA, the Municipal Council adopted Ordinance 6S&FC  on March 21, 2007 authorizing a public officer designated by the Mayor to identify privately-owned abandoned properties within the City, to place such properties on an abandoned properties list, and to provide such other notices and to take such other actions necessary to effectuate an abandoned property list (the "Abandoned Property Ordinance"); and
 
      WHEREAS, the Mayor designated the City's Deputy Mayor/Director of the Department of Economic and Housing Development (the "Director") to serve as the "public officer" for abandoned properties located within the City pursuant to the City's Abandoned Property Ordinance and the APRA; and
 
      WHEREAS, the Director has identified properties that qualify for inclusion on the City's abandoned property list and has placed such properties on the City's abandoned property list in accordance with the procedures set forth within the City's Abandoned Property Ordinance and the APRA; and
 
      WHEREAS, the City owns certain properties located adjacent to or nearby the privately-owned abandoned properties on the City's abandoned property list, and such City-owned properties are also suitable for rehabilitation by qualified redevelopers; and
 
WHEREAS, the City wishes to authorize the Director to convey certain abandoned properties and City-owned properties (as more particularly identified within a list appended as Exhibit A to the Redevelopment Agreement)(collectively, the "Properties") to a redeveloper as authorized under the APRA and the LRHL for the greater of (a) the Acquisition Costs expended by the City to acquire each of the Properties (as defined within the Redevelopment Agreement) or (b) $2.00 per square foot, in the case of the abandoned properties listed within Exhibit A & B, or for $2.00 per square foot, in the case of the City-owned properties listed within Exhibit A, so that the Properties may be redeveloped in a manner consistent with the redevelopment plans governing the Properties; and
 
      WHEREAS, Community Asset Preservation Corporation possesses the proper qualifications, financial resources and capacity to serve as the redeveloper for this project; and  
 
WHEREAS, the City believes that this project is consistent with the redevelopment plans governing the Properties and furthers the purposes of the APRA and the LRHL by allowing for the rehabilitation of abandoned properties so that they may be restored to active use; and
 
WHEREAS, the City therefore wishes to designate Community Asset Preservation Corporation as the redeveloper for this project and to authorize the execution of a redevelopment agreement between the City and Community Asset Preservation Corporation (the "Redevelopment Agreement") governing the sale and redevelopment of the Properties.
 
      NOW, THEREFORE BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
 
1.      The Mayor and the Acting Deputy Mayor/Acting Director of the Department of Economic and Housing Development are hereby authorized to enter into and execute a Redevelopment Agreement with Community Asset Preservation Corporation, 59 Lincoln Park, Suite 50, Newark, New Jersey 07102, in the form attached hereto designating Community Asset Preservation Corporation as the redeveloper for this project, authorizing the sale of the properties identified within Exhibit A & B of the Redevelopment Agreement (the "Properties) for a purchase price of the greater of (a) the Acquisition Costs of each of the Properties (as defined within the Redevelopment Agreement) or (b) $2.00 per square foot (in the case of the abandoned properties listed within Exhibit A & B) and $2.00 per square foot (in the case of the City-owned properties listed within Exhibit A), and requiring Community Asset Preservation Corporation to redevelop the Properties in accordance with the terms and conditions of the Redevelopment Agreement.
 
2.      The Acting Deputy Mayor/Director of the Department of Economic and Housing Development is hereby authorized to sign deeds and such other documents necessary to convey title in the Properties to Community Asset Preservation Corporation, all in forms approved by the City's Corporation Counsel.  
 
3.      The Mayor and/or his designee, the Acting Deputy Mayor/Director of the Department of Economic and Housing Development, are hereby authorized to effectuate certain business terms and conditions related to the Redevelopment Agreement and may enter into subordination agreements, access and right-of-entry agreements, and other relevant documents in forms approved by the City's Corporation Counsel.  
 
4.      The Acting Director of Finance is hereby authorized to receive the proceeds of the sale of each of the Properties and to deposit such proceeds as follows:  ninety (90) percent of the sales proceeds shall be deposited into the Community and Economic Development Dedicated Trust Fund established under Resolution No. 7RG 110685; and ten (10) percent of the sale proceeds shall be placed in the City's Affordable Housing Trust Fund established under Ordinance 6PhS&FF 062106 for the purpose of preserving or creating low or moderate income affordable housing.
 
5.      The Redevelopment Agreement, once fully executed, shall be filed with the Office of the City Clerk by the Acting Deputy Mayor/Director of the Department of Economic and Housing Development.  Additionally, all deeds for the sale of any of the Properties, once fully executed, shall be filed with the Office of the City Clerk by the Acting Deputy Mayor/Director of the Department of Economic and Housing Development.  
 
6.      This resolution shall take effect immediately.        
 
 
 
STATEMENT
 
This resolution authorizes the Mayor and the Acting Deputy Mayor/Acting Director of the Department of  Economic and Housing Development, to enter into and execute a Redevelopment Agreement with Community Asset Preservation Corporation, 59 Lincoln Park, Suite 50, Newark, New Jersey 07102, designating Community Asset Preservation Corporation as the redeveloper for this project, authorizing the sale of the properties identified within Exhibit A & B of the Redevelopment Agreement (the "Properties) for a purchase price of the greater of (a) the Acquisition Costs of each of the Properties (as defined within the Redevelopment Agreement) or (b) $2.00 per square foot (as defined within the Redevelopment Agreement) or (b) $2.00 per square foot (in the case of the abandoned properties listed within Exhibit A & B) and $2.00 per square foot (in the case of the City-owned properties listed within Exhibit A), and requiring Community Asset Preservation Corporation to redevelop the Properties in accordance with the terms and conditions of the Redevelopment Agreement.
 
 
 
 
 
Exhibit A
 
 
 
City Owned Properties
#
Block
Lot
Address
Ward
Length
Width
SF
1
306
19
44
Blum St.
Central
   25.00
100.00
2,500.00
2
490
67
90-½
Garside St.
Central
   10.00
  99.10
991.00
3
300
50
381
Littleton Ave.
Central
   25.00
  99.11
2,477.75
4
279
34
320
South Seventh Street
Central
   25.00
100.00
2,500.00
5
333
53
508
South Sixteenth Street
Central
   32.00
103.00
3,296.00
6
308
6
497
South Tenth Street
Central
   27.00
  92.00
2,484.00
7
490
38
49-½
Victoria Ave.
Central
   18.90
100.00
1,890.00
8
508
10
152-154
Ridge St.
North
   28.00
100.00
2,800.00
9
3013
57
811
Clinton Ave.
South
   24.10
108.40
2,612.44
10
2785
32
19
Earl St.
South
   25.10
100.00
2,510.00
11
2693
22
446-450
Irvine Turner Blvd.
South
   75.00
135.00
10,125.00
12
2656
18
25
Seymour Ave.
South
   25.00
111.00
2,775.00
13
3024
64
171
Seymour Ave.
South
   28.00
100.00
2,800.00
14
3024
58
185
Seymour Ave.
South
   28.00
100.00
2,800.00
15
4063
102
59
Boylan St.
West
   33.40
100.00
3,340.00
16
334
28
593
Fifteenth Ave.
West
   25.00
  75.00
1,875.00
17
1947
31
348-350
North Seventh St.
West
   50.20
104.10
5,225.82
18
326
33
494
South Eighteenth Street
West
   25.00
100.00
2,500.00
19
335
52
550-552
South Eighteenth Street
West
   50.00
  75.00
3,750.00
20
1858
9
99
South Eleventh Street
West
   25.00
100.00
2,500.00
21
330
33
476
South Fourteenth Street
West
   25.00
100.00
2,500.00
 
Exhibit B
 
 
Privately Owned Properties
#
Block
Lot
Address
Ward
Length
Width
SF
22
518
58
113½
Bloomfield Ave.
Central
   17.60
89.00
  1,566.40
23
307
40
41
Blum St.
Central
   25.00
100.00
  2,500.00
24
564
11
79
Broad St.
Central
   18.90
122.80
  2,320.92
25
526
26
242-244
Broadway
Central
   50.60
120.00
  6,072.00
26
490
30
78
Garside St.
Central
   20.00
  99.10
  1,982.00
27
490
21
94
Garside St.
Central
   16.80
  99.10
  1,664.88
28
489
59
97
Garside St.
Central
   16.70
100.00
  1,670.00
29
512
36
139
Garside St.
Central
   25.20
112.00
  2,822.40
30
511
19
144
Garside St.
Central
   25.30
100.00
  2,530.00
31
512
33
133-135
Garside St.
Central
   38.40
112.00
  4,300.80
32
483
84
16
M.L. King Blvd.
Central
   18.20
  66.00
  1,201.20
33
490
42
77
Mt. Prospect Ave.
Central
   25.00
100.00
  2,500.00
34
511
38
153
Mt. Prospect Ave.
Central
   18.90
100.00
  1,890.00
35
511
40
155
Mt. Prospect Ave.
Central
   18.90
100.00
  1,890.00
36
511
41
157
Mt. Prospect Ave.
Central
   25.00
100.00
  2,500.00
37
511
39
153½
Mt. Prospect Ave.
Central
   18.90
100.00
  1,890.00
38
490
74
93½
Mt. Prospect Ave.
Central
   16.70
100.00
  1,670.00
39
312
30.03
573
South Eleventh Street
Central
   35.00
120.00
  4,200.00
40
279
1
275-277
South Sixth Street
Central
   50.00
  75.80
  3,790.00
41
308
16
517-519
South Tenth St.
Central
   50.00
  93.00
  4,650.00
42
485
6
65
Stone St.
Central
   25.00
104.00
  2,600.00
43
488
21
76
Stone St.
Central
   20.40
  90.00
  1,836.00
44
487
23
87
Stone St.
Central
   12.60
  98.00
  1,234.80
45
484
49
83
Summer Ave.
Central
   25.40
100.00
  2,540.00
46
485
57
88
Summer Ave.
Central
   25.00
  97.10
  2,427.50
47
486
37
99
Summer Ave.
Central
   25.00
  99.90
  2,497.50
48
486
20
119
Summer Ave.
Central
   17.60
  97.00
  1,707.20
49
561
40
91-93
Third Ave. East
Central
   50.00
154.90
  7,745.00
50
2486
16
101
Brill St.
East
   25.00
123.60
  3,090.00
51
2482
15
30
Cortland St.
East
   25.00
  87.10
  2,177.50
52
2483
60
43½
Cortland St.
East
   16.80
100.00
  1,680.00
53
946
23
223-227
East Kinney St.
East
   61.10
115.00
  7,026.50
54
2011
16
31
Fillmore St.
East
   27.00
  67.00
  1,809.00
55
2017
33
24
Fleming Ave.
East
   19.60
  59.00
  1,156.40
56
2017
32
26
Fleming Ave.
East
   20.60
  59.00
  1,215.40
57
2484
19
23
Hawkins St.
East
   25.00
129.00
  3,225.00
58
2483
25
40
Hawkins St.
East
   25.00
100.00
  2,500.00
59
2484
39
45
Hawkins St.
East
   25.00
125.70
  3,142.50
60
2481
12
9
Lentz Ave.
East
   30.00
  71.50
  2,145.00
61
2480
47
18
Lentz Ave.
East
   20.00
  71.50
  1,430.00
62
2480
45
20½
Lentz Ave.
East
   20.00
  71.50
  1,430.00
63
2020
48
22
Mott St.
East
   25.00
100.00
  2,500.00
64
2808
43
120
Pennsylvania Ave.
East
   18.10
100.00
  1,810.00
65
507
59
45
Highland Ave.
North
   25.00
100.00
  2,500.00
66
538
51
103
Highland Ave.
North
   23.80
100.00
  2,380.00
67
507
54
35-37
Highland Ave.
North
   40.00
  80.00
  3,200.00
68
565
47
52
Oriental St.
North
   17.50
  71.60
  1,253.00
69
507
32
124
Parker St.
North
   24.00
113.00
  2,712.00
70
507
25
138
Parker St.
North
   25.00
100.00
  2,500.00
71
508
45
141
Parker St.
North
   33.40
100.00
  3,340.00
72
507
12
164
Parker St.
North
   25.00
100.00
  2,500.00
73
508
63
169
Parker St.
North
   25.00
  81.00
  2,025.00
74
537
28
177
Parker St.
North
   25.00
  91.00
  2,275.00
75
576
49
325
Summer Ave.
North
   25.00
120.00
  3,000.00
76
576
62
351
Summer Ave.
North
   25.00
110.00
  2,750.00
77
3004
21
89-91
Baldwin Ave.
South
   49.20
111.00
  5,461.20
78
2686
41
110
Chadwick Ave.
South
   25.00
105.00
  2,625.00
79
2686
40
112
Chadwick Ave.
South
   25.00
105.00
  2,625.00
80
2686
37
118
Chadwick Ave.
South
   25.00
105.00
  2,625.00
81
2687
46
152
Chadwick Ave.
South
   25.00
105.00
  2,625.00
82
3020
18
225
Chadwick Ave.
South
   25.00
116.00
  2,900.00
83
3593
2
410
Chadwick Ave.
South
   25.00
100.00
  2,500.00
84
3592
9
362-364
Chadwick Ave.
South
   51.30
101.00
  5,181.30
85
2686
26
489
Clinton Ave.
South
   30.10
100.00
  3,010.00
86
2669
11
310-316
Clinton Ave.
South
   81.11
165.30
13,407.48
87
3003
29
587-589
Clinton Ave.
South
   37.00
100.10
  3,703.70
88
3026
75
49-51
Hedden Terr.
South
   50.00
115.11
   5,755.50
89
3044
8
37
Homestead Park
South
   26.20
118.40
   3,102.08
90
2624
29
59
Rose Terr.
South
   31.00
116.10
   3,599.10
91
2624
58
117
Rose Terr.
South
   31.00
100.00
   3,100.00
92
2656
19
27
Seymour Ave.
South
   25.00
111.00
   2,775.00
93
2656
21
31
Seymour Ave.
South
   31.00
111.00
   3,441.00
94
3024
83
133
Seymour Ave.
South
   28.00
100.00
   2,800.00
95
3024
65
169
Seymour Ave.
South
   28.00
100.00
   2,800.00
96
3020
40
172
Seymour Ave.
South
   25.00
  99.00
   2,475.00
97
3024
63
173
Seymour Ave.
South
   28.00
100.00
   2,800.00
98
3024
57
187
Seymour Ave.
South
   28.00
100.00
   2,800.00
99
2643
56
812
South Nineteenth Street
South
   25.00
100.00
   2,500.00
100
1828
1
524
Central Ave.
West
   25.30
  40.00
   1,012.00
101
1826
3
550-552
Central Ave.
West
   50.00
100.00
   5,000.00
102
1825
39
131
Eleventh Ave.
West
   25.00
  75.00
   1,875.00
103
1801
11
121
Littleton Ave.
West
   25.00
120.00
   3,000.00
104
1778
16
201
Littleton Ave.
West
   25.00
109.00
   2,725.00
105
1778
9
187-189
Littleton Ave.
West
   50.00
125.00
   6,250.00
106
1856
8
18
Ninth Ave.
West
   22.00
  90.00
   1,980.00
107
1856
7
20
Ninth Ave.
West
   25.00
  85.00
   2,125.00
108
1868
38
61
Ninth Ave.
West
   25.00
100.00
   2,500.00
109
1860
3
90-92
Ninth Ave.
West
   50.00
100.00
   5,000.00
110
1779
39
309
So. Orange Ave.
West
   25.90
  69.80
   1,807.82
111
1780
36
319
So. Orange Ave.
West
   25.00
100.00
   2,500.00
112
1780
41
329
So. Orange Ave.
West
   25.10
100.00
   2,510.00
113
1818
27
275-277
South Eighteenth Street
West
   41.80
100.00
   4,180.00
114
1829
42
102
South Eighth St.
West
   25.00
100.00
   2,500.00
115
1799
41
220-222
South Eighth St.
West
   48.00
100.00
   4,800.00
116
1858
13
107
South Eleventh Street
West
   25.00
100.00
   2,500.00
117
1826
60
158
South Eleventh Street
West
   25.00
100.00
   2,500.00
118
1826
59
160
South Eleventh Street
West
   25.00
100.00
   2,500.00
119
1825
34
203
South Eleventh Street
West
   25.00
100.00
   2,500.00
120
1815
11
229
South Eleventh Street
West
   25.20
100.00
   2,520.00
121
1815
12
231
South Eleventh Street
West
   25.40
100.00
   2,540.00
122
1814
44
242
South Eleventh Street
West
   25.20
  46.00
   1,159.20
123
 1795
8
275
South Eleventh Street
West
   29.00
100.00
   2,900.00
124
1826
42
192-194
South Eleventh Street
West
   50.00
100.00
   5,000.00
125
1827
16
109
South Ninth St.
West
   25.00
100.00
   2,500.00
126
 1827
31
139
South Ninth St.
West
   30.00
100.00
   3,000.00
127
1812
56
164
South Ninth St.
West
   25.00
100.00
   2,500.00
128
1813
15
167
South Ninth St.
West
   25.00
100.00
   2,500.00
129
1813
16
169
South Ninth St.
West
   25.00
100.00
   2,500.00
130
1812
44
188
South Ninth St.
West
   28.00
100.00
   2,800.00
131
1782
13
283
South Ninth St.
West
   25.00
100.00
   2,500.00
132
1811
17
113
South Seventh Street
West
   30.00
100.00
   3,000.00
133
1810
51
114
South Seventh Street
West
   29.00
115.00
   3,335.00
134
1810
49
116
South Seventh Street
West
   29.00
113.90
   3,303.10
135
1779
61
228
South Seventh Street
West
   33.90
100.00
   3,390.00
136
1810
22
103
South Sixth Street
West
   25.00
  90.00
   2,250.00
137
1800
28
163
South Sixth Street
West
   37.90
  93.30
   3,536.07
138
1827
47
152
South Tenth Street
West
   25.00
100.00
   2,500.00
139
1826
31
169
South Tenth Street
West
   25.00
100.00
   2,500.00
140
1813
59
188
South Tenth Street
West
   25.00
100.00
   2,500.00
141
1813
51
204
South Tenth Street
West
   25.00
100.00
   2,500.00
142
1814
15
205
South Tenth Street
West
   25.00
100.00
   2,500.00
143
1814
16
207
South Tenth Street
West
   25.00
158.00
   3,950.00
144
1814
23
221
South Tenth Street
West
   25.00
100.00
   2,500.00
145
1814
24
223
South Tenth Street
West
   25.00
100.00
   2,500.00
146
1858
58
94
South Twelfth Street
West
   25.00
100.00
   2,500.00
147
1858
53
104
South Twelfth Street
West
   25.00
100.00
   2,500.00
148
1825
43
186-188
South Twelfth Street
West
   50.00
100.00
   5,000.00
149
1780
5
350
Thirteenth Ave.
West
   25.00
100.00
   2,500.00
150
1783
1
406
Thirteenth Ave.
West
   25.00
100.00
   2,500.00
151
1793
27
527
Thirteenth Ave.
West
   25.00
  67.00
   1,675.00
152
1781
4
370-374
Thirteenth Ave.
West
   85.00
  27.00
   2,295.00
153
1781
4
370-374
Thirteenth Ave.
West
   85.00
  27.00
   2,295.00
154
1798
5
202
Twelfth Ave.
West
   25.00
100.00
   2,500.00
155
1812
36
205
Twelfth Ave.
West
   25.00
100.00
   2,500.00
156
1811
27.06
185-187
Twelfth Ave.
West
   44.89
100.00
   4,489.00