Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Designation of Redevelopment Entity
Purpose: Resolution Designating the Newark Housing Authority as Redevelopment Entity in connection with the redevelopment of the property formerly known as Seth Boyden Terrace and authorizing an Application for Approval of same to the Local Finance Board pursuant to N.J.S.A. 40A:5A-1 et seq.
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WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., as amended and supplemented (the "Act"), authorizes municipalities to participate in the redevelopment and improvement of areas that are in need of redevelopment or rehabilitation; and
WHEREAS, a "Redevelopment Entity" is "a municipality or an entity authorized by the Governing Body of a municipality pursuant to Subsection c. of Section 4 of P.L.1992, c. 79 (C.40A:12A-4) to implement redevelopment plans and carry out redevelopment projects in an area in need of redevelopment, or in an area in need of rehabilitation, or in both"; and
WHEREAS, in accordance with Section 4 of the Act, a municipality, as Redevelopment Entity, "shall be responsible for implementing redevelopment plans and carrying out redevelopment projects", and "may execute these responsibilities directly, or in addition thereto or in lieu thereof", through "a municipal housing authority authorized to exercise redevelopment powers pursuant to Section 21 of P.L.1992, c. 79 (C.40A:12A-21)"; and
WHEREAS, over the last three decades, there has been substantial redevelopment and revitalization of blighted and economically challenged areas in the City of Newark (the "City"); and
WHEREAS, the City wishes to continue the redevelopment and rehabilitation of distressed and blighted areas within the City; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-21, any authorization of a Redevelopment Entity made after the effective date of the Act "shall b...
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