Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( X ) Amending
Type of Service: Amending Redevelopment Agreement/Lease Agreement
Purpose: First Amended And Restated Redevelopment Agreement And Lease Agreement
Entity Name: Alpert and Alpert Development, Ltd.
Entity Address: 1 Parker Plaza Fort Lee, New Jersey 07024
Sale Amount: N/A
Cost Basis: ( ) $ PSF ( ) Negotiated ( X ) N/A ( ) Other:
Assessed Amount: N/A
Appraised Amount: N/A
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)
276-300 Clinton Avenue /Block 2670/Lot 1.14 / South Ward
Additional Information:
This resolution authorizes the First Amended and Restated Redevelopment Agreement And Lease Agreement between the City of Newark ("City") and Alpert and Alpert Development, Ltd. ("Redeveloper") to revise the redevelopment project to authorize the development of 12,000 square foot health care center within the South Ward, which shall be leased by the City for health care services within the South Ward.
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WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., as amended and supplemented (the "Act"), authorizes municipalities to participate in the redevelopment and improvement of areas in need of redevelopment; and
WHEREAS, in accordance with the criteria set forth in the Act, on October 21, 1998, the Municipal Council adopted Resolution 7RW designating 216 properties within the South Ward of the City as areas in need of redevelopment in order to stimulate redevelopment in accordance with the Act ("Redevelopment Area")
WHEREAS, on April 7, 1999, the City adopted the So...
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