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AN ORDINANCE AMENDING 6PSF-C, ADOPTED ON JANUARY 5, 2017, AND 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 A THIRD AMENDMENT TO THE AGREEMENT FOR THE CONVEYANCE OF REAL PROPERTY WITH THE NEW JERSEY SCHOOLS DEVELOPMENT AUTHORITY MODIFYING CERTAIN MILESTONES SET FORTH IN THE SECOND AMENDED AGREEMENT OF SALE AND RECORDED AMENDED DEED OF CONVEYANCE.
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WHEREAS, on March 23, 2017, pursuant to Ordinance 6PSF-C adopted on January 5, 2017, the New Jersey Schools Development Authority (the "NJSDA") and the City of Newark (the "City") entered into an Agreement for Conveyance of Real Property (the "Agreement of Sale") whereby the City agreed to purchase various properties from the NJSDA subject to certain conditions imposed by the NJSDA that survive the closing of title; and
WHEREAS, on July 6, 2017, a Deed was executed between the NJSDA and the City and recorded within the Essex County Register of Deeds as Instrument #2017064424 on July 25, 2017; and
WHEREAS, on or about February 21, 2018, the City and the NJSDA entered into a First Amendment of the Agreement of Sale (the "First Amendment") to revise some of the NJSDA's timelines; and
WHEREAS, the City, acting through the Municipal Council, pursuant to and in accordance with the requirements of the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. (the "Redevelopment Law"), may contract with redevelopers for the planning, re-planning, construction, or undertaking of any project or redevelopment work; and
WHEREAS, on November 12, 2019, pursuant to Resolution 7R2-a(S), the Municipal Council designated certain areas of Blocks 1784 and 1785 as a condemnation redevelopment area; and
WHEREAS, on September 2, 2020, pursuant to Ordinance 6PSF-b, the Municipal Council adopted the Fairmount Commons Redevelopment Plan ("Redevelopment Plan"); and
WHEREAS, on August 19, 202...
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