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RESOLUTION AUTHORIZING THE EXECUTION OF A RELEASE OF A RIGHT-OF-REVERTER HELD BY THE COUNTY OF PASSAIC ON PROPERTIES LOCATED AT 168-170 FAIR STREET AND 84-86 AUBURN STREET IN THE CITY OF PATERSON, PURSUANT TO N.J.S.A. 40:60-51.2
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WHEREAS, the County of Passaic (hereafter “County”) is a government body incorporated pursuant to N.J.S.A. 40:18-1, et seq. and vested with all rights contained therein; and
WHEREAS, pursuant to N.J.S.A. 40:20-1 the Passaic County Board of County Commissioners (hereafter “Board”) is vested with decision making powers on behalf of the County; and
WHEREAS, pursuant to N.J.S.A. 40A:12-21, in February of 1993, the County transferred two properties to 4th Ward Alliance, Inc., a non-profit corporation, for the purpose of operating a community center, such properties located at 168-170 Fair Street and 84-86 Auburn Street in the City of Paterson (hereafter “Properties”); and
WHEREAS, pursuant to N.J.S.A. 40A:12-21 the deed to the Properties contained a right-of-reverter, such that in the event the Properties were no longer used for the purpose of operating a community center, title to the Properties would revert back to the County; and
WHEREAS, at some point thereafter, 4th Ward Alliance, Inc., lost its non-profit status, and ceased operating a community center at the Properties; and
WHEREAS, subsequently, the Properties fell into disrepair, 4th Ward Alliance failed to pay property taxes due and payable on the Properties, and third-parties later acquired title to the Properties through tax sale foreclosure, and further redeveloped the property, completely renovating the existing structure; and
WHEREAS, the owners of the Properties have reached out to the County, requesting that the County’s right-of-reverter as to the Properties be released; and
WHEREAS, because the Properties were obtained by third-parties through tax sale foreclosure, the County would be required to pay back taxes in order to exercise its right-of-reverter as to the Properties; and
WHEREAS, after a public hearing in accordance with N.J.S.A. 40:60-51.2, the County has considered the matter and has determined that it is in the best interest of the County to execute the release of right-of-reverter as to the Properties, attached hereto and made part hereof; and
WHEREAS, this matter was discussed at the May 8, 2024 meeting of the Public Works Committee and is being recommended to the Board for approval.
NOW, THEREFORE, LET IT BE RESOLVED, pursuant to N.J.S.A. 40:60-51.2, the Passaic County Board of County Commissioners hereby authorizes the execution of a release of two rights-of-reverter held by the County on the properties located at 168-170 Fair Street and 84-86 Auburn Street in the City of Paterson.
LET IT BE FURTHER RESOLVED, that the Clerk to the Board, County Counsel, and Director of the Board of County Commissioners are authorized to take all action necessary to carry out the purposes of this Resolution.
KJB June 11, 2024