Newark considers selling city buildings

NEWARK - Newark officials are considering a plan that would cut the city's $83 million deficit down considerably.

Next week the city says it will ask the county to buy many of its buildings, which the city will lease from the county.

City officials say the plan would involve selling $50 million in property to the Essex County Improvement Authority, a board set up by County Executive Joe Divincenzo, solely to make money for the county through transactions and financing. Divincenzo says the county would sell bonds to buy the property.

Newark landmarks such as the City Courthouse and Symphony Hall, four fire houses and even police headquarters are all on the list of property to be sold. City Hall, however, is not on the list.

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