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ORDINANCE AUTHORIZING THE MAYOR, AND/OR HIS DESIGNEE, THE DEPUTY MAYOR/DIRECTOR OF THE DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT TO ENTER INTO AN AGREEMENT FOR CONVEYANCE OF REAL PROPERTY FROM THE NEW JERSEY SCHOOLS DEVELOPMENT AUTHORITY ("NJSDA") TO THE CITY OF NEWARK FOR THE PURCHASE OF CERTAIN NJSDA-OWNED PROPERTIES IN THE WEST WARD FOR THE SUM OF ONE DOLLAR AND ZERO CENTS ($1.00) AND SATISFACTION OF ADDITIONAL CONTRACTUAL CONDITIONS.
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WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., as amended and supplemented (referred to herein as the "Act"), provides a process for municipalities to participate in the redevelopment and improvement of areas in need of rehabilitation and redevelopment; and
WHEREAS, the Municipal Council previously adopted Resolution 7Rdo(AS) on June 15, 2005, designating the entire City as an "area in need of rehabilitation" under the Act; and
WHEREAS, the Municipal Council thereafter adopted Ordinance 6S&Fc(S) on August 17, 2005, adopting the Second Amendment to the West Ward Redevelopment Plan (the "Plan") governing the redevelopment of City-owned properties located within the West Ward; and
WHEREAS, the City of Newark desires that a portion of the real property within the Plan Area be redeveloped as shown on Exhibit 5, (entitled "Project Area") to the Conveyance Agreement, which is annexed herein as Schedule 'A'; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-4, the City may contract with any other public body to carry out a redevelopment project within its jurisdiction; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8, upon adoption of the redevelopment plan, the City may proceed to carry out and effectuate the purposed of the Local Redevelopment and Housing Law, including to acquire land for a redevelopment project; to contract with public agencies to undertake any project; lease or convey property without public bidding where the price and upon terms it deems reasonable, conduct suc...
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