Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Pre-Litigation Settlement
Docket No.: Not Applicable
Claimant: Hess Corporation, LLC, 1501 McKinney Street, Houston, Texas 77010
Claimant's Attorney: Not Applicable
Settlement Amount: Not Applicable
Funding Source: Not Applicable
Additional Comments:
This is a Settlement Agreement and Release to pre-litigation with Hess Corporation, LLC, of 1501 McKinney Street, Houston, Texas 77010, the owner of real property located in the City of Newark at 921-979 Delancy Street and designated as Block 5074, Lot 25 on the Official Tax Map of the City of Newark (the "Hess Property"). The Settlement designates Hess as the Redeveloper of the Hess Property. No municipal funds are required.
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WHEREAS, Hess Corporation, LLC, 1501 McKinney Street, Houston, Texas 77010, is the owner of real property located in the City at 921-979 Delancy Street and designated as Block 5074, Lot 25 on the Official Tax Map of the City of Newark (the "Hess Property"); and
WHEREAS, the Municipal Council (the "Council"), adopted Resolution 7R2-a on January 19, 2017, which authorized and directed the Central Planning Board of the City of Newark (the "Planning Board"), to undertake a preliminary investigation to determine if an area classified as the "Doremus Avenue Study Area" qualified as a Condemnation Redevelopment Area, pursuant to Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. (the "Redevelopment Law"); and
WHEREAS, the Hess Property was included in the Doremus Avenue Study Area; and
WHEREAS, pursuant to Resolution 7R2-a as amended and adopted on January 23, 2019, the Council designated the Doremus Avenue Study Area as a Condemnation Redevelopment Area; and
WHEREAS, Hess sent a letter, dated March 15, 2019, to the City's Department of Economic and Housing Development objecting to inclusion ...
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