Title
ORDINANCE AUTHORIZING ENTRY INTO A LEASE AGREEMENT WITH MC UNIVERSITY REALTY, L.L.C., AS LANDLORD FOR MUNICIPAL OFFICE SPACE FOR THE NEWARK OFFICE OF WORKFORCE DEVELOPMENT LOCATED AT 321 UNIVERSITY AVENUE, BLOCK 73.01, LOT 31, NEWARK, NEW JERSEY, PURSUANT TO N.J.S.A. 40A:12-5. (CENTRAL WARD)
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WHEREAS, the City of Newark (the "City") is in need of office space for use for its Office of Workforce Development operating in conjunction with the New Jersey Department of Labor and Workforce Development; and
WHEREAS, the City has located a suitable location consisting of approximately 16,600 square feet of gross rentable square feet of office space on a portion of the fourth (4th) floor (the "Premises") of a building located at 321 University Avenue, Newark, New Jersey, also known on the Official Tax Map as Block 73.01, Lot 31 (the "Building"); and
WHEREAS, MC University Realty, L.L.C. (the "Landlord"), a New Jersey limited liability company, whose address is c/o Mack-Cali Realty Corporation, Harborside 3, 210 Hudson Street, Suite 400, Jersey City, New Jersey 07311, is the owner of the Premises and Building; and
WHEREAS, the City is authorized to acquire property by lease pursuant to the Local Lands and Buildings Law, N.J.S.A. 40A:12-5, upon passage of an ordinance; and
WHEREAS, the City wishes to enter into a lease agreement (the "Lease") with the Landlord to lease the above described premises pursuant to the current form, attached hereto and made a part of this Ordinance; and
WHEREAS, the parties obligations under the terms of the Lease are specifically contingent upon the City obtaining from the New Jersey Department of Labor and Workforce Development (the "DLWD"), within forty-five (45) days after full execution of the Lease, the approval of the DLWD to enter into a lease with the Landlord upon mutually agreeable terms, and further contingent upon the execution of such lease by the Landlord and DLWD within thirty (30) days after the City...
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