Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Settlement of Civil Litigation
Docket No.: ESX-L-5283-15
Claimant: Penn Ave Urban Renewal, LLC.
Claimant's Attorney: Timothy J. Dehaut, Esq.
Attorney's Address: Giordano, Halleran & Ciesla, P.C. 125 Half Mile Road, Suite 300, Red Bank, New Jersey 07701-6777
Settlement Amount: $550,000.00
Funding Source: Department of Water and Sewer Utilities Budget
Additional Comments:
The Settlement Amount will be paid in three (3) equal installments from 2018 through 2020.
Invitation: Acting Corporation Counsel
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WHEREAS, Penn Ave Urban Renewal, LLC, is the current owner of certain parcel of real property commonly referred to as: 717-733 Pennsylvania Avenue in Elizabeth, New Jersey, located on Block 11, Lot 1247 (and formerly Lots 1247, 1247A, 1248, 1248A) on the Official Tax Maps of the City of Elizabeth, New Jersey (collectively, the "Property"); and
WHEREAS, in the 1960's there occurred a state of emergency due to an acute water shortage throughout New Jersey; and
WHEREAS, the cities of Newark and Elizabeth came together at the direction of the then Governor of the State to construct a forty-eight inch (48") pipeline which would help to ensure adequate water supply for New Jersey residents; and
WHEREAS, on August 11, 1965, the City of Newark and the City of Elizabeth entered into an agreement for the construction of the forty-eight inch (48") water main (the "Pipe"); and
WHEREAS, construction commenced and was completed, preventing the water shortage from becoming a State disaster; and
WHEREAS, after entering into a purchase and sale agreement in 2011, and obtaining land use approval from the City of Elizabeth for a one hundred (100) unit residential apartment building (the "Proposed Building"), Penn Ave obtained title to the Property on or about April 25, 2013; specifically, Lot 1247 w...
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