The city of Newark, N.J. has agreed to pay $27 million over 30 years to rent property that it previously sold in 2017 for just $1, leading some to question why the city didn't just hold on to the land in the first place.
“We’re paying them for something that we gave them. This is basic math, it doesn’t add up,” Newark resident Debra Salters told NJ.comWednesday during a City Council meeting, where the deal was narrowly approved in a 5-4 vote.
The autonomous Newark Parking Authority plans to erect offices, retail space and a five-story parking deck with 515 spaces at 43-67 Green Street under a $34 million redevelopment agreement with the city, the news site reported.
“This is not the Parking Authority pushing this on the city. A redevelopment agreement was passed by this council,” Anthony Mack, executive director of the parking authority, told the council. “We’re actually subsidizing the city as we’re constructing this.”
More
https://www.foxnews.com/us/new-jersey-city-agrees-to-pay-27-million-to-lease-parking-lot-it-sold-for-1
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10 comments:
HAHAHA. TELL me there isn't huge corruption in NJ. Mendez has his hands all over this.
Man sounds like Jake day and Palmer Gilliss have some buddies up in new Jersey
Sounds like the saliSalis council and Jane Ireton fake Day .
Gump, you're a f*** genius!!
Thank you, Sargent Major, sir!!
Sounds like deals made by WCBOE with their rental agreement for offices instead of building on old Bennett Jr lot.
NJ residents...get out if you can!
This is exactly what corruption looks like.
Geez
follow the money and see who benefits from that deal. Corruption at its highest level. Somebody just got a huge payday at the tax payers expense. somebody on that council that voted for it to. What deal was made behind the curtain? follow the money.
Sounds like something Jake Day would do, isn’t it? Same with Hogan and Cannon.
Typical Joisey.
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