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AN ORDINANCE AUTHORIZING THE MAYOR OF THE CITY OF NEWARK AND/OR HIS DESIGNEE, THE DEPUTY MAYOR/DIRECTOR OF THE DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT TO EXECUTE THE SALE AND TRANSFER OF THE CITY OF NEWARK PROPERTIES IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 34, LOTS 9, 10, 11, 12 AND 30 AND BLOCK 35 LOT 29 PURSUANT TO AN AGREEMENT FOR SALE AND REDEVELOPMENT OF LAND.
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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 the municipalities to participate in the redevelopment and improvement of areas that are in need of redevelopment or rehabilitation; and
WHEREAS, in order to stimulate the reinvigoration of the City of Newark (the "City"), by Resolution 7Rdo(AS) adopted on June 15, 2005, the entire City was designated as an area in need of rehabilitation pursuant to the Act; and
WHEREAS, the Municipal Council then approved the Central Ward Redevelopment Plan, including any amendments, for the Redevelopment Area within which the Properties are located (the "Redevelopment Plan"); and
WHEREAS, the City is the record fee owner of the following properties: Block 34, Lots 9, 10, 11, 12 and 30 (47-55 Washington Street) and Block 35, Lot 29, together with the rights of the City as owner of Lot 29 to its appurtenant rights in the adjacent alley between Lots 29 and 31, (65 Central Avenue) (collectively referred to as the "Properties"), which are situated within the Redevelopment Plan; and
WHEREAS, the Newark Museum Association (the "Redeveloper") is the fee owner of certain real property upon which the Newark Museum of Art is operated and maintained; and
WHEREAS, based upon its title search, Redeveloper is the record owner of the following lots, title to which had been conveyed to Redeveloper as follows:
Lots 1 and 47, Block 34 - Newark Museum Association by Deed from The United Hospitals o...
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