Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Leasing City-owned property Purpose: The United States General Services Administration for the federal government leases the property located at 1 Centre Place, Newark, NJ from Claremont Urban Renewal, LLC and requires in the interest of public safety and national security that certain improvements be made to the roadway in or around the property and that access to the property be limited Entity Name: Claremont Urban Renewal. LLC Entity Address: 1 Centre Place, Newark, NJ 07102 Lease Amount: $15,000.00 per year Lease Period: The initial term of the Lease Agreement shall be for a period of ten (10) years, commencing on the date of execution of the Lease Agreement and running for a period of ten years thereafter with subsequent options to renew. 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: (Roadway in or around 1 Centre Place, Newark, NJ) (Address/Block/Lot/Ward) Additional Information: