Title
AN ORDINANCE AUTHORIZING THE EXECUTION OF A LEASE AGREEMENT WITH NEWARK COMMUNITY ECONOMIC DEVELOPMENT CORPORATION, 111 MULBERRY STREET, SUITE 1, NEWARK, NEW JERSEY, 07102, FOR AN UNUSED PORTION OF THE CITY'S DATA NETWORK ("DARK FIBER") FOR THE DEVELOPMENT OF SMART CITY INITIATIVES AND GIGABIT CONNECTIVITY, FOR A TERM OF FIVE (5) YEARS, FOR A NOMINAL CONSIDERATION OF FIVE DOLLARS ($5.00) WITH ONE (1) FIVE YEAR OPTION TO RENEW SAID LEASE AND NEGOTIATE AN ANNUAL FEE FOR SAID RENEWAL.
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WHEREAS, the City of Newark owns a surplus of dark fiber within the City's fiber optic network ("Dark Fiber Network"); and
WHEREAS, the City has unused portions of its data network ("Dark Fiber") which could be developed into Smart City applications, which will provide advanced communications and other means of making the City more responsive through technology, and used to offer gigabit bandwidth; and
WHEREAS, the City's 2012 Master Plan devotes a section to Broadband and Technology and includes four specific strategies to utilize and improve existing City-wide broadband infrastructure and Strategy 7.1 is to "expand the reach and capacity of next-generation broadband connectivity to support economic and community development, "benefitting all residents; and
WHEREAS, due to the City's surplus of Dark Fibers, a portion of said Dark Fibers are not needed for use by the municipality; and
WHEREAS, Newark Community Economic Development Corporation, 111 Mulberry Street, Suite 1, Newark, New Jersey 07102, ("Newark CEDC") is a not- for- profit corporation, and acts as the primary economic development catalyst for Newark with the goal of producing sustained economic growth, generating jobs, and creating wealth for the citizens of Newark benefiting all residents; and
WHEREAS, the Local Lands and Buildings Law, N.J.S.A. 40A:12-1 et. seq., provides for a municipality to lease to a non-profit corporation or association for a public purpose in accordance ...
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