Resolutions - Jersey City

Agenda No.
Resolution of the City of Jersey City, N.J.
. City Clerk File No.
Approved:
TITLE:
Res~ 11-476
lO.Z.2
JUl 20 2011
RESOLUTION AUTHORIZING THE EXTENSION OF TIME
TO COMPLETE THE CONDITIONS OF SALE AFFECTING
BLOCK 733 LOT A.2 LOCATION 325 PALISADE AVENUE
COUNCIL offered and moved adoption of the following resolut~on:
WHREAS, on August 16, 2006, the Municipal Council of the City of Jersey City passed
and adopted a Resolution authorizing the sale of certin public lands not needed for public use, by
public sale, to the highest bidderìn accordance with NJ.S.A. 40A:12-13; and,
WHEREAS, notice of said sale was duly published as required by law; and,
WHEREAS, the public sale was held on September 12,2006; and
WHEREAS, Block 733 LOT A.2 Location 325 Palisade Avenue was sold to:
Due Vecchio, 195 Fairfeld Avenue Suite 2A, West Caldwell, New Jersey; and,
WHEREAS; the Municipal Council of the City of Jersey City adopted the Confimiation of
Sale on April 11, 2007; and,
WHEREAS, on April 11, 2007 the Municipal Council authorized the assignent of the
contract of sale for the propert known as 325 Palisade Avenue from Due Vecchio, LLC to Hudson
Palisades, LLC; and, .
WHEREAS,on September 13,2007, the Deed was released to: Hudson Palisades,LLC,
46 Broadway, Jersey City, New Jersey c/o David DePierro; and,
WHEREAS, the deed stipulates the following: The buyer shall not sell, conveyor otherwise
the above propert described propert until the buyer has rehabilitated the property in compliance
with the 325 PalisadeA venue Redevelopment Plan and the terms and conditions of sale contained
in the resolution authorizing the sale; and, ,
WHEREAS, as per attached inspectionreportdated Monday, June 27, 20ll, 75% of the
renovations have been completed in compliance with the conditions of sale; and,
WHEREAS, as per the attched letter, the purchaser, is requesting that the City grant an
extension until September 30, 2011 to complete all the conditions of sale,
. NOW THEREFORE BE IT RESOLVED, by the Municipal Council of the City of Jersey
City that said request for an extension Uhtil September 30, 20ll to complete the conditions of sale
on Block 733 Lot A.2 Lpcation 325 Palisade Avenue, on the Tax Map of Jersey City, New Jersey
is hereby approved. ~
APPROVËD: ~
Ann Marie
APPROVED:
APPR.OVED AS TO LEGAL FORM
Manager ~ --.
Certification Required 0
o 2 0 1 l 1 Nöt Required o
Corporation Counsel
. COUNCILPËRSON .. . SOTTOLANO
... c.
ItECÖltÖOFCOUNCiLVOTE ON FINAL PASSAGE 7/20/11 .
AYE NAY N.Y. COUNCILPERSON .. AYE NAY N.V. COUNCILPERSON AYE NAY N.V.
/ GAUGHAN, _ ,4£ S6rr AHMAD . .
DONNELLY
LOPEZ:
APPROVED 7.; 0
.I
.. -( FULOP ... ....1 VELAQUEZ I
Ý RICHÀRDSON , BRENNAN, PRES .I
.-_.
./ Indicates Vote N.V.-NotVoting (Abstain)
unlclpa' CauneR of fhe Cny of Je"ey CHy N"Q: ~
Rob Byrne, Ci-: