Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Redevelopment Agreement
Purpose: Authorizing execution of a Redevelopment Agreement with Brandywine Acquisition & Development, LLC, as the designated redeveloper of the Peddler's Square site and adjoining properties within the Broad Street Station District Redevelopment Plan Area
Entity Name: Brandywine Acquisition and Development, LLC
Entity Address: 2 Ponds Edge Drive, Post Office Box 500, Chadds Ford, Pennsylvania 19317
Contract Amount: $7,450,000.00
Development Agreement Term:
City Contribution to Development Project: ( ) Grant or Loan ( ) Guarantee
(X ) None ( ) Other:( )
Developer Investment: :( )
Developer Third-Party Financing
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
(X ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
183-219 Orange Street/Block 2860/Lot 3 and Block 2861/Lot 10 and Block 2859/ Lots 28 and 64 Central Ward
221-247 Orange Street/Block 2861/Lot 34/Central Ward
249 Orange Street/Block 2861/Lot 37/Central Ward
63-69 Nesbitt Street/Block 2861/Lot 38/Central Ward
71-79 Nesbitt Street/Block 2861/Lot 45/Central Ward
180-248 Orange Street/Block 2854/Lot 1/ Central Ward
132-138 James Street/Block 2833.01/Lot 2/ Central Ward
145-152 James Street/Block 2833.02/Lot 1/ Central Ward
158-176 James Street/Block 2833.03/Lot 2/Central Ward
Additional Information:
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WHEREAS, on June 15, 2005, pursuant to Council Resolution 7Rdo(AS), the entire City of Newark was designated an "area in need of rehabilitation" as defined by the Local R...
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