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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 ENTER INTO AND EXECUTE AN AGREEMENT FOR THE SALE OF LAND AND REDEVELOPMENT BY AND BETWEEN THE CITY OF NEWARK, AS A REDEVELOPMENT ENTITY AND DAVIDSON ABRAHAM AND ASSOCIATES AND MOUNT HOPE MANAGEMENT, AS REDEVELOPER FOR CITY PROPERTY LOCATED AT 209-219 IRVINE TURNER BOULEVARD IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 2567, LOT 35. (CENTRAL WARD).
Deferred 8-b (s/as) 102522
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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, 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 thereafter adopted Ordinance 6PS&FE(S) on August 17, 2005, adopting the First Amendment to the Central Ward Redevelopment Plan governing the redevelopment of City-owned properties located within the Central Ward, which includes the above-referenced properties; and
WHEREAS, said Redevelopment Plan complies with the requirements of all applicable State and Federal statutes and regulations promulgated thereunder; and
WHEREAS, the Redevelopment Plan is applicable to the development and redevelopment of City-owned properties, including the City-owned property located at 209-219 Irvine Turner Boulevard and identified on the Official Tax Map of the City of Newark, as Block 2567, Lot 35 (the "Property"); and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(f), the City is authorized to arrange or contract with redevelopers for the planning, re-planning, const...
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