AN ORDINANCE AUTHORIZING THE EXECUTION OF A LEASE AGREEMENT BETWEEN THE CITY OF NEWARK (TENANT) AND BROAD ST FIDELCO LLC (LANDLORD) FOR THE LEASING OF APPROXIMAETLEY 2,970 SQUARE FEET OF PROPERTY LOCATED AT 468-498 BROAD STREET, NEWARK, NEW JERSEY 07102, BLOCK 25, LOT 1 (CENTRAL WARD), PURSUANT TO N.J.S.A. 40A:12-3 & 5, FOR A PERIOD OF FIVE (5) YEARS FROM THE DATE OF COMMENCEMENT, AS DEFINED IN THE LEASE AGREEMENT, TO BE USED AS A POLICE PRECINCT SUBSTATION BY THE DEPARTMENT OF PUBLIC SAFETY, OFFICE OF PROFESSIONAL STANDARDS, AT AN APPROXIMATE ANNUAL RENTAL NOT TO EXCEED $69,795.00 IN YEAR ONE (1) AND ESCALATING TO AN APPROXIMATE ANNUAL RENTAL NOT TO EXCEED $78,554.89 IN YEAR FIVE (5), WITH TWO (2) OPTIONAL RENEWAL TERMS OF FIVE (5) YEARS EACH. Deferred 6PSF-g 120424

What this record is

Held by

Broad ST Fidelco LLC 2 records across this site

Amount

$70K

Runs until

November 20, 2029 3 years away date calculated from a contract term stated in the record, not quoted directly

Type

contract

Field

Public safety

public safety contracts in NJ that end within a year →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

Read automatically from the title of the official record. The source document below is authoritative.

Broad ST Fidelco LLC also holds

AN ORDINANCE AUTHORIZING THE EXECUTION OF A LICENSE AGREEMENT BETWEEN THE CITY OF NEWARK (LICENSEE AND CITY) AND BROAD ST FIDELCO LLC (LICENSOR AND FI… $6K Newark, NJ

Committee

Economic and Housing Development

Introduced

November 20, 2024

On agenda

November 26, 2024

Passed

December 18, 2024

Where it was heard

Municipal Council Dec 18, 2024 Close on Public Hearing and Adopt Pass Municipal Council Dec 4, 2024 Maintained on Public Hearing and Deferred Pass Municipal Council Nov 26, 2024 Advance and Adopt on First Reading as 6F- Pass

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