Title
Dept/ Agency: Economic and Housing Development Department
Action: ( ) Ratifying ( x ) Authorizing ( x ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: First Amendment to the Agreement for the Sale and Redevelopment of Land Between the City of Newark and Inner City Development Group, LLC
Entity Name: Inner City Development Group, LLC
Entity Address: 216 Goldsmith Avenue, Newark, New Jersey 07112
Contract Amount: $55,080.00
Funding Source: Inner City Development Group, LLC]
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( X ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
146-148 Fabyan Place/Block 3083/Lot 19/South Ward
150-152 Fabyan Place/Block 3083/Lot 20/South Ward
Resolution 7R2-b, adopted on October 21, 2020, authorized the Private Sale/Redevelopment, pursuant to the Agreement for the 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 "Redevelopment Law"), provides a process for municipalities to participate in the redevelopment and improvement of areas in need of redevelopment; and
WHEREAS, pursuant to N.J.S.A. ? 40A: 12A-8(f), the City of Newark (the "City") is authorized to arrange or contract with redevelopers for the planning, replanning, construction or undertaking of any redevelopment project; and
WHEREAS, pursuant to N.J.S.A. ? 40A:12A-8(g), the City may "convey property...without public bidding and at such prices and upon such terms as it deems reasonable"; and
WHEREAS, in order to stimulate the reinvigoration of the City, by Resolution 7Rdo(AS) adopted by the Municipal Council on June 15, 2005, the entire City of Newark was designated as an area in need of rehabilitation pursuant to the Redeve...
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