Title
ORDINANCE OF THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY AUTHORIZING THE SALE OF TEN (10) PROPERTIES OWNED BY THE CITY KNOWN AS 141 THROUGH 155 FIRST STREET AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY AS BLOCK 1882, LOTS 23, 25, 26, 27, 28, 29, 30, 31, 32 AND 50 TO 370 ORANGE STREET LLC FOR A TOTAL SUM OF $200,000.00 (CENTRAL WARD)
Public Hearing to be held at the December 22, 2015 Special Meeting
Deferred 6PSF-d 121615
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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 "Redevelopment Law"), provides a process for municipalities to participate in the redevelopment and improvement of areas in need of rehabilitation; and
WHEREAS, in accordance with N.J.S.A 40A:12-3(c), the City may sell it's property by private sale to a private developer when acting in accordance with LRHL specifically, N.J.S.A 40A:12-8(g); and
WHEREAS, on January 17, 2001, the City of Newark Municipal Council adopted Ordinance 6S&Fk, approving the Central Ward Redevelopment Plan, as amended and supplemented, for certain City of Newark (the "City") owned properties, including without limitation, Block 1882, Lots 23, 25, 26, 27, 28, 29, 30, 31, 32 and 50 (the "City Property"); and
WHEREAS, on June 15, 2005, the Municipal Council adopted Resolution 7Rdo(AS) designating the entire City as an "Area in Need of Rehabilitation" pursuant to the Redevelopment Law; and
WHEREAS, the City of Newark has determined the above referenced City -owned properties are no longer needed for public use; and
WHEREAS, 370 Orange Street LLC (the "Entity") is the fee title owner of 370-386 Orange Street and identified on the City tax map as Block 1882, Lot 37 (the "Non-City Property" and together with the City Property, the "Area"); and
WHEREAS, on October 14, 2015, the City Municipal Council adopted Resolution 7R3-b(S) desi...
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