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File #: 16-0591    Version: 1 Name: Lease 494 Broad Street - Mini Precinct
Type: Ordinance Status: Adopted
File created: 3/24/2016 In control: Public Safety
On agenda: 5/26/2016 Final action: 8/3/2016
Title: ORDINANCE AUTHORIZING A LEASE AGREEMENT WITH BROAD ST. FIDELCO, LLC, LANDLORD, AND THE CITY OF NEWARK DEPARTMENT OF PUBLIC SAFETY DEPARTMENT, TENANT, TO LEASE A PORTION OF THE PROPERTY COMMONLY KNOWN AS 494 BROAD STREET, NEWARK, NEW JERSEY 07102 (BLOCK 25, LOT 1), FOR A TERM OF THREE YEARS COMMENCING ON JULY 1, 2016 AND TERMINATING ON JUNE 30, 2019, FOR THE SUM OF $3.00 ($1.00 PER YEAR), FOR USE AS A POLICE SUBSTATION MINI PRECINCT. (CENTRAL WARD) Deferred 6F-b 061516
Sponsors: Council of the Whole
Title
ORDINANCE AUTHORIZING A LEASE AGREEMENT WITH BROAD ST. FIDELCO, LLC, LANDLORD, AND THE CITY OF NEWARK DEPARTMENT OF PUBLIC SAFETY DEPARTMENT, TENANT, TO LEASE A PORTION OF THE PROPERTY COMMONLY KNOWN AS 494 BROAD STREET, NEWARK, NEW JERSEY 07102 (BLOCK 25, LOT 1), FOR A TERM OF THREE YEARS COMMENCING ON JULY 1, 2016 AND TERMINATING ON JUNE 30, 2019, FOR THE SUM OF $3.00 ($1.00 PER YEAR), FOR USE AS A POLICE SUBSTATION MINI PRECINCT. (CENTRAL WARD)
Deferred 6F-b 061516
Body

[WHEREAS, the City of Newark Department of Public Safety, a non-profit corporation of the State of New Jersey, has tax exempt status with respect to the State of New Jersey and the federal government; and

WHEREAS, Broad St. Fidelco, LLC owns the property located at 494 Broad Street, Newark New Jersey, 07102, more commonly known as Block 25, Lot 1 on the Official Tax Map of the City of Newark (the "Property"); and

WHEREAS, the City of Newark Department of Public Safety, (Tenant), wishes to enter into a Lease Agreement with Broad St. Fidelco, LLC (Landlord), to lease a portion of the Property, as more further described on Exhibit A to the Lease Agreement, for a period of three years commencing on July 1, 2016 and terminating on June 30, 2019, for the sum of $3.00 ($1.00 per year), for use as a police substation mini-precinct.

NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:

1. The Mayor and/or his designee the Director of the Department of Public Safety and/or the Business Administrator is hereby authorized to enter into and execute a Lease Agreement with Broad St. Fidelco, LLC, to lease a portion of the property located at 494 Broad Street, Newark New Jersey, 07102, more commonly known as Block 25, Lot 1 on the Official Tax Map of the City of Newark (the "Property"), as more further described on Exhibit A to the Lease Agreement, pursuant to N.J.S.A. 40:60-25.51, for a period of three years commencing on ...

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