Title
ORDINANCE AUTHORIZING THE MAYOR TO ENTER INTO A LEASE AGREEMENT BY WHICH THE CITY OF NEWARK WILL LEASE FROM THE PARKING AUTHORITY OF THE CITY OF NEWARK, APPROXIMATELY 12,460 SQ. FT. OF OFFICE SPACE TO BE UTILIZED BY THE FINANCE DEPARTMENT AND APPROXIMATELY 11,840 SQ. FT. OF OFFICE AND/OR STORAGE SPACE TO BE UTILIZED BY THE MUNICIPAL COURT; AND THE CITY WILL HAVE THE RIGHT TO THE DAILY USE AND OCCUPANCY, DURING NORMAL BUSINESS HOURS, MONDAY THROUGH FRIDAY, EXCLUDING HOLIDAYS, OF TWO HUNDRED FIFTY-EIGHT (258) PARKING SPACES; ON THE PROPERTY LOCATED AT 47-63 GREEN STREET, NEWARK, NEW JERSEY, 07102, ALSO KNOWN AS BLOCK 873, LOT 1.03 IN THE EAST WARD FOR A PERIOD OF THIRTY (30) YEARS.
Failed 6PSF-b 020619
Deferred 6PSF-c 022219
body
WHEREAS, pursuant to the Local Lands and Buildings Law (N.J.S.A. 40A:12-1, et seq.), the City of Newark ("City") is authorized to acquire real property interests, for public purposes, through lease agreements; and
WHEREAS, in accordance with N.J.S.A. 40A:12-5 (a) "Any county, by resolution, or any municipality, by ordinance may provide for the acquisition of any real property, capital improvement, or personal property . . . by purchase, gift, devise, lease, exchange, condemnation, or installment agreement;" and
WHEREAS, on July 12, 2017, the Municipal Council of the City of Newark (the "Municipal Council") adopted Ordinance 6PSF-b which authorized the Mayor and/or his designee, the Director of the Department of Economic and Housing Development to execute an Agreement for Private Sale and Redevelopment of the property, for $1.00, located at 47-63 Green Street, Newark, New Jersey, 07102, also known as Block 873, Lot 1.03 on the official tax map of the City of Newark (the "Property"), to the Parking Authority of the City of Newark (the "Parking Authority"), a public body corporate and politic and a political subdivision of the State of New Jersey, 50 Park Place, Suite 919, Newark, New Jersey 07102 ("Redeveloper"); and
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