Office of the President

MEMORANDUM

To: NJIT Faculty, Staff and Students

From: Robert A. Altenkirch

Date: Wednesday, April 2, 2008

Subject: Update on campus and neighborhood enhancements

As you know, we have been working on two major efforts that have long-term implications for NJIT and our neighbors, the NJIT Campus Gateway Plan and the purchase of the current Central High School. I am pleased to be able to tell you some very positive news about the status of both of these efforts.

On Monday of this week the Newark Municipal Council passed a resolution designating NJIT as the “sole and exclusive redeveloper” of the properties that comprise the Gateway Plan area, namely 18 acres north of campus, generally along Dr. Martin Luther King, Jr. Blvd. to Orange St., plus the NJIT parking lot bounded by Raymond Blvd. and Colden and Warren Sts. While there are many steps involved in the implementation, NJIT is now designated to provide the oversight necessary in such a comprehensive project to ensure proper implementation in the best interests of the various stakeholders and the City of Newark. Enhancing the neighborhood is important for both the community and for NJIT, providing retail and entertainment amenities for all to enjoy and living opportunities that will make NJIT an attractive destination for students, faculty, and staff.

With respect to Central High School, the “Sale and Purchase Agreement” has now been signed, and we are now in the process of executing the terms of the agreement. The agreement accommodates Newark Public Schools’ possible need for space to house students on a temporary basis while their permanent facility is renovated. The accommodation is provided through a negotiated deposit structure allowing for Newark Public Schools to have funds up front for important capital projects and a flexible closing date up to June 30, 2010, with the option to extend the date to no later than June 30, 2012, while at the same time providing NJIT with certainty with respect to acquisition so that we may begin planning for future uses.

We will continue to keep you apprised as to the status of implementation of both these major initiatives.

Thanks,

Bob