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ORDINANCE AMENDING TITLE 2, ADMINISTRATION, CHAPTER 18, DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT OF THE REVISED GENERAL ORDINANCES OF THE CITY OF NEWARK, NEW JERSEY, 2000, AS AMENDED AND SUPPLEMENTED, TO ESTABLISH THE LIVE NEWARK LOAN FORGIVENESS PROGRAM FOR ADVANCING CLOSING COSTS OR PROVIDING FUNDING FOR ELIGIBLE FA?ADE IMPROVEMENTS OR RENOVATIONS.
Invitation: Economic and Housing Development Director, January 20, 2016
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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 that are in need of redevelopment or rehabilitation; and
WHEREAS, in order to stimulate the reinvigoration of the City of Newark (the "City"), by Resolution 7Rdo (A.S.) June 15, 2005, designated the entire City as an area in need of rehabilitation pursuant to the Act; and
WHEREAS, the City, in order to stimulate redevelopment, rehabilitation, and conservation and for the general improvement of the City, has adopted Redevelopment Plans for each of its five (5) Wards which, collectively, cover the entire City, as follows:
(i) Third Amendment to the North Ward Redevelopment Plan, adopted August 17, 2005, by Ordinance 6S+Fa(S);
(ii) First Amendment to the Central Ward Redevelopment Plan, adopted August 17, 2005 by Ordinance 6S+Fe(S);
(iii) First Amendment to the East Ward Redevelopment Plan, adopted September 21, 2005, by Ordinance 6S+Fe;
(iv) Third Amendment to the South Ward Redevelopment Plan, adopted August 17, 2005 by Ordinance 6S+Fd(S); and
(v) Second Amendment to the West Ward Redevelopment Plan, adopted August 17, 2005 by Ordinance 6S+Fc(S); and
WHEREAS, the City has broad powers under the Act to implement and assist in the implementation of redevelopment projects and in accordance with N.J.S.A. 40A:12A-8(f), a munici...
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