Dept/ Agency: Economic Housing and Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Issuance of an Event of Default for a Financial Agreement with New Grace West Urban Renewal, LLC. Project Information: RESOLUTION OF THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY DETERMINING THAT AN EVENT OF DEFAULT HAS OCCURRED, PURSUANT TO THE FINANCIAL AGREEMENT WITH NEW GRACE WEST URBAN RENEWAL, LLC, FOR PROPERTY KNOWN AS 221-305 IRVINE TURNER BOULEVARD AND IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 2583, LOT 1. Additional Information: