Court approves UD's purchase of Chrysler site

On Thursday, the university’s purchase agreement for Newark’s shuttered Chrysler plant was approved by the U.S. Federal Bankruptcy Court in New York.

University spokesman David Brond, said one of the changes made to the October sale agreement was a decrease in final sale price, from $24.25 million to $24.225 million. Brond said the $25,000 reduction in price is a result of Chrysler removing some equipment from the site that may be useful to them for other operating Chrysler plants.

“Right now we are working with consultants to evaluate demolition and decommissioning companies,” Brond said.  “Our priority right now is getting the right companies on board to assist us.”

Officials plan to close within the next two weeks, Brond said. Demolition on the site will start within the next couple of months, but the process may take up to two years to complete, he said.

Brond said the university will pursue some grants from the state for the site costs.

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