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AN ORDINANCE AUTHORIZING A SECOND RENEWAL LEASE AGREEMENT BETWEEN UNIVERSITY HOSPITAL (UH), A BODY CORPORATE AND POLITIC OF THE STATE OF NEW JERSEY (LANDLORD), AND THE CITY OF NEWARK, DEPARTMENT OF HEALTH AND COMMUNITY WELLNESS (TENANT) AUTHORIZING THE EXERCISING OF THE SECOND ONE YEAR RENEWAL OPTION PERIOD FOR THE LEASING OF THE PREMISES COMMONLY KNOWN AS 140 BERGEN STREET (CENTRAL WARD) BLOCK 211, LOT 1, FOR USE AS AN AMBULATORY CARE FACILITY, IN THE ANNUAL BASE RENT AMOUNT OF $80,316.00, FOR THE PERIOD OF MARCH 1, 2016 THROUGH FEBRUARY 28, 2017.
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[WHEREAS, on September 5, 2013, the Municipal Council adopted Ordinance 6PSF-C authorizing an original lease agreement ("Agreement") between University Hospital (UH) (Landlord) and the City of Newark, Department of Child and Family Well-Being n/k/a Health and Community Wellness (Tenant), which was amended by the Municipal Council on January 22, 2014, through Ordinance 6PSF-H ("First Amended Agreement," and collectively with Agreement, the "Lease Agreement"); and
WHEREAS, the Lease Agreement set forth the commencing date of the lease to be September 1, 2013 or date of occupancy by tenants, whichever is later and permitted two one-year extension options; and
WHEREAS, the Tenant began occupying the Leased Premises on March 1, 2014, for a term of March 1, 2014 through February 28, 2015; and
WHEREAS, on September 2, 2015 the Municipal Council adopted Ordinance 6PSF-E authorizing the Landlord and Tenant to exercise the first option to extend the Lease Agreement for the period of March 1, 2015 through February 29, 2016; and
WHEREAS, The Landlord and the Tenant desire to exercise the second and final available option to extend the Lease Agreement for the period of March 1, 2016 through February 28, 2017 ("Second Renewal Lease Agreement"), at the same base rent of $80,316.00 (approximately $23.00 per rentable square foot) set forth in first ...
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