Title
AN ORDINANCE TO TRANSFER ELEVEN (11) PROPERTIES OWNED BY THE CITY OF NEWARK TO THE HOUSING AUTHORITY OF THE CITY OF NEWARK FOR THE DEVELOPMENT OF TRIANGLE PARK IN ACCORDANCE WITH THE NEWARK DOWNTOWN CORE DISTRICT REDEVELOPMENT PLAN. PROPERTY BOUNDS MULBERRY, LAFAYETTE AND COLUMBIA STREETS AKA BLOCK 866, LOTS 3, 5, 6, 7, 8, 9. 10, 12, 14, 15, 17, 19, 21, AND 29. (EAST WARD)
Sponsors: Gonzalez/ Amador
Deferred 6PSF-f 012115
Sponsors: Amador/ James
body
WHEREAS, over the last four decades, there has been substantial redevelopment in the downtown area of the City of Newark ("City"); including the development of the Gateway Complex, the Seton Hall Law School, the Legal Center, the New Jersey Performing Arts Center; and
WHEREAS, on July 14, 2004, in an effort to continue the progress, the City utilized the powers of Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. to designate over 39 acres of land within the Downtown Newark area as an "area in need of redevelopment," commonly known as the Newark Downtown Core District Area; and
WHEREAS, on October 6, 2004, the Municipal Council approved the Newark Downtown Core District Redevelopment Plan ("Plan"), and appointed the Housing Authority of the City of Newark ("Authority") as the City's Redevelopment Entity for the purpose of implementing the Plan on behalf of the City in accordance with N.J.S.A. 40A:12A-4(c); and
WHEREAS, the redevelopment initiatives of the City and the Authority have led to the development of the Prudential Center Arena, the Marriot Hotel, the Indigo Hotel, and various projects within the Downtown Newark area;
WHEREAS, an additional project agreed required pursuant to the Redevelopment Agreements between the Authority and its designated Redevelopers is for the development of a park around the Prudential Center Arena entitled "Triangle Park;" and
WHEREAS, the Authority acquired an...
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