Title
Dept./ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Waiving 20 day period for an Ordinance to take effect
Purpose: This Resolution seeks to authorize an emergency be declared to exist, for Ordinance 6PSF-d(s), which authorizes the execution of an Agreement for the Sale and Redevelopment of Land between the City of Newark and the Newark Museum Association, 49 Washington Street, Newark, New Jersey 07102, for the redevelopment, 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, and 12 and Block 35, Lot 29 and 30, for a project to construct a mixed-use arts, retail, and residential development to be known as Museum Parc ("Museum Parc"), to become effective once adopted by the Municipal Council after Public Hearing, Second Reading and Final Passage, in accordance with N.J.S.A. 40:69A-181(b). This is due to the exigent need for the Museum Parc Project to meet the New Jersey Housing and Mortgage Finance Agency's 9% Tax Credits application deadline of August 31, 2022, and to address the need for affordable housing in the City of Newark.
Ordinance No(s).:
Ordinance 6F-g(s), adopted on First Reading by the Municipal Council on August 16, 2022.
Ordinance 6PSF-d(s) is scheduled for a Public Hearing, Second Reading and Final Passage on August 30, 2022, subject to the Municipal Council's vote to pass this Resolution.
Additional Information:
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WHEREAS, the Newark Museum Association, 49 Washington Street, Newark, New Jersey 07102, filed an application with the Mayor of the City of Newark seeking to enter into an agreement for the Redevelopment, 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, and 12 and Block 35, Lots 29 and 30, for a project to construct a mixed-use arts, retail, and residential developm...
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