Title
ORDINANCE AUTHORIZING THE MAYOR AND/OR HIS DESIGNEE, THE ACTING DEPUTY MAYOR/DIRECTOR OF THE DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT TO ENTER INTO AND EXECUTE A LEASE AGREEMENT WITH NEWARK COMMUNITY ECONOMIC DEVELOPMENT CORPORATION, 111 MULBERRY STREET, NEWARK, NEW JERSEY 07102, FOR THE PROPERTIES LOCATED AT 310-312 NEW STREET (BLOCK 415, LOT 51), AND 139 NORFOLK STREET (BLOCK 415, LOT 28), WITHIN THE CENTRAL WARD, NEWARK, NEW JERSEY FOR AN ANNUAL RENT OF ONE DOLLAR AND ZERO CENTS ($1.00), FOR A PERIOD COMMENCING OCTOBER 1, 2017 AND TERMINATING ON SEPTEMBER 30, 2020, FOR THE PURPOSE OF ESTABLISHING THE NEWARK OFFICE SUPPLY COOPERATIVE, LLC. (CENTRAL WARD)
Deferred 8n (as) 120617
Deferred 8a (s) 121217
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WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., as amended and supplemented ("Redevelopment Law"), provides a process for municipalities to undertake the redevelopment, rehabilitation and improvement of areas in need of rehabilitation; and
WHEREAS, a municipality is duly authorized and empowered under the Redevelopment Law to lease real property to any other party, without public bidding, at such prices and upon such terms as it deems reasonable, provided said lease is made in conjunction with a redevelopment plan in accordance with the provisions of N.J.S.A. 40A:12A-8(g), notwithstanding the provisions of any law, rule or regulation to the contrary; 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 Redevelopment Law; and
WHEREAS, the Municipal Council thereafter adopted Ordinance 6PhS&Fe(S) on August 17, 2005, adopting the First Amendment to the Central Ward Redevelopment Plan governing the redevelopment of City-owned properties located within the Central Ward, which applies to the City-owned properties commonly known as 310-312 New Street, Block 415, Lot 51, and ...
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