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Council introduces ordinance to sell 179 Oak St to Black Oak Preservation for redevelopment
Summary
Council introduced Ordinance 25‑09, authorizing sale of Block 104, Lot 2 (179 Oak St) to Black Oak Preservation and Redevelopment, LLC for $15,000 and designating the company redeveloper subject to a Redevelopment Agreement; public hearing set for April 21, 2025.
Salem City Council introduced Ordinance 25‑09 on March 17, 2025, proposing the sale of Block 104, Lot 2 (179 Oak St) to Black Oak Preservation and Redevelopment, LLC for $15,000.
The ordinance text, read into the record as part of the introduction, cites the city’s prior redevelopment actions and authorizes the sale under the Local Redevelopment and Housing Law (N.J.S.A. 40:12A‑1 et seq.). The proposed buyer is required to rehabilitate or construct commercial office improvements on the property and execute a Redevelopment Agreement with the city; the ordinance designates Black Oak Preservation and Redevelopment, LLC as the redeveloper and authorizes the mayor, administrator or city clerk to execute the agreement and related documents subject to final review by the city solicitor.
Council set a public hearing and second reading for April 21, 2025. The ordinance lists the offered purchase price as Fifteen Thousand dollars ($15,000.00) and states that the Redevelopment Agreement will be available for public inspection in the City Clerk’s office after execution.
The introduction drew no public comment at the March 17 meeting. Final sale and redevelopment terms, including any required improvements and timelines specified in a Redevelopment Agreement, will be determined before closing if the ordinance is adopted after public hearing.
