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24-1061
| 1 | 7R2-a(s) | LPCCD Development, LLC Amended RDA | Resolution | Dept/ Agency: Economic and Housing Development
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 to Lincoln Park/Coast Cultural District, Inc., to change the Entity Name, amend the scope of the Project, correct the assessed amount, and correct the sale amount.
Entity Name: LPCCD Development, LLC
Entity Address: 450 Washington Street, Newark, New Jersey 07102
Sale Amount: $148,579.68
Cost Basis: (X) $6.00PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $417,000.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by the City
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)
11-15 Emmet | Pass |
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24-1488
| 1 | 7R2-b(s) | Rising Plains 570 LLC RDA Amendment | Resolution | Dept/ Agency: Economic and Housing Development
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, to Rising Plains 570 LLC, to amend the Scope of the Project
Entity Name: Rising Plains 570 LLC
Entity Address: 1515 Morris Place, Hillside, New Jersey 07205-0720
Sale Amount: $115,206.84
Cost Basis: (X) $7.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $328,200.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by the City
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)
497-499 Bergen Street/Block 2611/Lots 29, 30 and 36/Central Ward
509-513 Bergen Street/Block 2611/Lot 32/Central | Fail |
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24-1521
| 1 | 7R2-c(s) | Inner City Development Group RDA FIrst Amendment | Resolution | 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 | Pass |
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24-1614
| 1 | 7R2-d(s) | NMA Owners Urban Renewal, LLC Subordination Agreement | Resolution | Dept./ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Subordination Agreement/Reverter
Purpose: Resolution of the City of Newark, in the County of Essex, State of New Jersey authorizing the execution of an Agreement to subordinate the city’s rights of reverter by entering into a subordination agreement with Merchants Bank of Indiana as lender and NMA Owners Urban Renewal LLC as borrower in order to permit financing necessary for the redevelopment of an affordable rental or for-sale housing project.
Entity Name: NMA Owners Urban Renewal LLC
Entity Address: 2 Park Avenue, 23rd Floor, New York, New York 10016
Sale Amount: $0.00
Cost Basis: ( ) $ PSF ( ) Negotiated (X) N/A ( ) Other:
Assessed Amount: $0.00
Appraised Amount: $0.00
Contract Period: Not Applicable
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
List of Property: | Pass |
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24-1669
| 1 | 8-a(s/as) | An Ordinance to Repeal Section 6 and Add Section 12 of Ordinance 6PSF-C, and to Amend Designated District Management Corporation and Add Reporting Requirements to Greater Newark Tourism Improvement District | Ordinance | AN ORDINANCE AMENDING TITLE 10, FINANCE AND TAXATION, CHAPTER 32, SPECIAL IMPROVEMENT DISTRICTS, OF THE REVISED GENERAL ORDINANCES OF THE CITY OF NEWARK, NEW JERSEY, AS AMENDED AND SUPPLEMENTED, BY AMENDING 10:32-3.6, 10:32-3.11, 10:32-5.1, 10:32-5.2(C)-(F), 10:32-5.5(A), 10:32-5.5(C)-(D), AND 10:32-5.7(E) CLARIFYING REPORTING REQUIREMENTS AND DESIGNATING A DISTRICT MANAGEMENT CORPORATION, STRIKING 10:32-5.6 HIRING PRACTICES AND 10:32-5.9 TRIENNIAL REVIEW, AND ADDING 10:32-3.XX ESTABLISHING A BOARD OF TRUSTEES AND 10:32-5.XX ESTABLISHING AN EFFECTIVE DATE.
Public Hearing will be January 8, 2025. | Pass |
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