CNBNews

Note: This was discovered (March 17,2009) in a Google search for Chatham Square. The date the ordinance was passed is not known however the year was 2008. What is interesting is the price of the apartments was $4.25 million, not $4 million which is the figure the administration gave us.

~William E. Cleary Sr. CNBNews Editor

ORDINANCE OF THE CITY OF GLOUCESTER CITY

County of camden, State of New Jersey

#O 03 -2008

ORDINANCE AUTHORIZING THE ACQUISITION OF CERTAIN

REAL PROPERTY BY THE CITY OF GLOUCESTER CITY,

COUNTY OF CAMDEN AND STATE OF NEW JERSEY

Block 256, Lot 1 Chatham Square Apartments

Block 256, Lot 1.01, Gloucester Terrace Apartments

WHEREAS, the Mayor and Council of the City of Gloucester City has determined that it is in the best interest of the City that the land and premises located at Block 256, Lot 1 (commonly known as Chatham Square Apartments) in the City of Gloucester City be purchased at private sale pursuant to N.J.S.A. 40A:12-5(a) for a purchase price not to exceed $4.25 million dollars plus closing costs; and

WHEREAS, the Mayor and Council of the City of Gloucester City has determined that it is in the best interest of the City that the land and premises located at Block 256, Lot 4 (commonly known as Gloucester Terrace Apartments) in the City of Gloucester City be purchased at a private sale pursuant to N.J.S.A. 40A:12-5(a) for a purchase price not to exceed $1.65 million dollars plus closing costs; and

WHEREAS, the Mayor and Council of the City of Gloucester City desire to acquire the properties aforementioned and provide for their redevelopment.

THEREFORE, BE IT ORDAINED, by the Mayor and Council of the City of Gloucester City, New Jersey, that the Mayor and City Clerk be and are hereby authorized to purchase the lands and premises located at Block 256, Lot 1 in the City of Gloucester City pursuant to N.J.S.A. 40A:12-5(a) for an amount not to exceed $4.25 million dollars plus closing costs and lands and premises located at Block 256, Lot 4 in the City of Gloucester City pursuant to N.J.S.A. 40A:12-5(a) for an amount not to exceed $1.65 million dollars plus closing costs for redevelopment purposes.

BE IT FURTHER ORDAINED that all prior ordinances inconsistent with this ordinance are repealed only to the extent of such inconsistency.

BE IT FURTHER ORDAINED that if any section, subsection, paragraph, sentence or other part of this Ordinance is adjudged unconstitutional or invalid, such judgment shall not affect, impair or invalidate the remainder of this Ordinance, but shall be confined in its effect to the section, subsection, paragraph, sentence or other part of this Ordinance directly involved in the controversy in which said judgment shall have been rendered and all other provisions of this Ordinance shall remain in full force and effect.

BE IT FURTHER ORDAINED this Ordinance shall take effect immediately upon final adoption and publication in the manner prescribed by law.

_________________________

William P. James, Mayor

Passed on First Reading:

Adopted by the Mayor and Common Council of Gloucester City this day of , 2008.

________________________________

Paul J. Kain, City Clerk/Administrator