Pittsburgh City Council

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Resolution22-0089

Dept./ Agency: Economic and Housing Development Action: (X) Ratifying (X) Authorizing (X) Amending Type of Service: Lease Agreement Purpose: To authorize the Second Amendment to the Lease Agreement, pursuant to N.J.S.A. 40A:12A-8(g), between the City of Newark and Newark Performing Arts Corporation for the properties commonly known as 12-28 Chestnut Street, 10 Chestnut Street, 1032 Broad Street, 1030 Broad Street, 1020-1026 Broad Street, and 1016-1018 Broad Street identified on the Official Tax Map of the City of Newark, as Block 883, Lots 32, 33, 36, 38, 41, and 46, for the purpose of removing the provisions in the Lease Agreement obligating the City to pay to Newark Performing Arts Corporation their annual operating costs and salaries for staff and executive director in the amount of $650,000.00. Entity Name: Newark Performing Arts Corporation Entity Address: 1030 Broad Street, Newark, New Jersey 07102 Lease Amount: $1.00 per year Lease Period: Eighteen (18) years commencing on May 1, 2008 and terminating on April 30, 2026 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) N/A Location of Property: (if applicable) (Address/Block/Lot/Ward) 1016-1018 Broad Street/Block 883/Lot 46/Central Ward 1020-1026 Broad Street/Block 883/Lot 41/Central Ward 1030 Broad Street/Block 883/Lot 38/Central Ward 1032 Broad Street/Block 883/Lot 36/Central Ward 10 Chestnut Street/Block 883/Lot 33/Central Ward 12-28 Chestnut Street/Block 883/Lot 32/Central Ward Additional Information: The initial Lease Agreement was approved by Resolution 7Re(S-2) adopted on July 17, 2007. The First Amended Lease Agreement was approved by Resolution 7R3-e(AS) adopted on February 18, 2009.

Introduced Jan 21, 2022· Economic and Housing Development
Adopted
Resolution22-0079

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop properties into multi-family modular units of artist housing. Entity Name: Lincoln Park/Coast Cultural District, Inc. Entity Address: Newark, New Jersey 07102 Sale Amount: $148,668.60 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A () Other: Assessed Amount: $404,500.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of property ownership from the City to the Redeveloper 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) 26 Thomas Street/Block 2821/Lot 6/East Ward 54 Pennsylvania Avenue/Block 2821/Lot 11/East Ward 68 Sherman Avenue/Block 2809/Lot 8/South Ward 11-15 Emmet Street/Block 2804/Lot (s) 15, 16, 17/South Ward 26 Parkhurst Street/Block 2821/Lot 18/East Ward 28 Parkhurst Street/Block 2821/Lot 17/East Ward 34-36 Parkhurst Street/Block 2821/Lot 13/East Ward 1109 Broad Street/Block 2822/Lot 34/East Ward Additional Information: Total Price: Square Footage X PSF = 24,778.10 X $6.000 = $148,668.60. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-a (s) 081622

Introduced Jan 20, 2022· Economic and Housing Development
Adopted
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