title
ORDER OF THE BOARD OF ALDERS OF THE CITY OF NEW HAVEN APPROVING THE EXECUTION AND DELIVERY OF A PROPOSED GROUND LEASE BETWEEN THE CITY OF NEW HAVEN AND BIGELOW SQUARE, LLC, WITH RESPECT TO A PORTION OF REUSE PARCEL ‘I’ IN THE RIVER STREET MUNICIPAL DEVELOPMENT PROJECT AREA, NOW KNOWN AS 194 RIVER STREET
body
WHEREAS: the Board of Aldermen on January 7, 2002, acting pursuant to the provisions of Chapter 132 of the Connecticut General Statutes, as amended, adopted the River Street Municipal Development Project Plan (the “River Street MDP”); and
WHEREAS: Bigelow Square, LLC (the “Lessee”) has submitted a proposal for the lease of a portion of Reuse Parcel I (also known as 194 River Street, New Haven, Connecticut, consisting of approximately 0.43 acres, more or less) situated within the River Street MDP area (the “Property”), at an annual rent of One Dollar and Zero Cents ($1.00) for a term of Ninety-Eight (98) Years, for the proposed redevelopment of the Property as a parking lot (the “Project”) to serve the adjacent proposed 10,000-square-foot commercial/industrial building at 200 River Street and adjacent existing facility at 190 River Street (the “Project”); and
WHEREAS: the Project will support the generation of significant new jobs and property taxes and the revitalization of a portion of the River Street MDP area; and
WHEREAS: details of said proposed redevelopment are set forth in a proposed form of ground lease (the “Lease”), a copy of which proposed Lease has been submitted with this Order; and
WHEREAS: the New Haven Development Commission (the “NHDC”) has determined that grant of the Lease would be consistent with, and in accordance with, the River Street MDP; and
WHEREAS: the NHDC has recommended that the Board of Alders of the City of New Haven (the “Board of Alders”) authorize Mayor Justin Elicker to execute and deliver the Lease in substantially the form attached to this Order; and
WHEREAS: the Board of Alders has reviewed and approved the attached form Lease including (without limitation) the option to purchase contained therein.
NOW, THEREFORE, BE IT ORDERED by the Board of Alders:
1. that the Lease is consistent with the purposes of the River Street MDP and is in the best interests of the City as regards redevelopment of the Property; and
2. that the Buyer possesses the qualifications necessary to lease and develop the Property in accordance with the requirements of the River Street MDP and the Lease; and
3. that, accordingly, the Mayor of the City of New Haven (the “City”) is hereby authorized and directed to execute, on behalf of the City, the Lease in substantially the form submitted to the Board of Alders, together with such other documents or instruments as the Office of the Corporation Counsel shall deem necessary or appropriate to effect the intent of this Order, and
4. that, to the extent necessary or desirable, the City/Town Clerk is hereby authorized and directed to impress and attest the official seal of the City onto such documents.