The Arecibo Observatory (AO) is a multidisciplinary research and education facility that is recognized worldwide as a leading facility in astronomy, planetary, and atmospheric and space sciences. AOs cornerstone research instrument was the 305-m William E. Gordon telescope. On December 1, 2020, the 305-m telescope collapsed and was irreparably damaged. In the three weeks following the collapse, AOs scientific and engineering staff and the AO users community initiated extensive discussions on the future of the observatory. The community is in overwhelming agreement that there is a need to build an enhanced, next-generation radar-radio telescope at the AO site. From these discussions, we established the set of science requirements the new facility should enable. These requirements can be summarized briefly as: 5 MW of continuous wave transmitter power at 2 - 6 GHz, 10 MW of peak transmitter power at 430 MHz (also at 220MHz under consideration), zenith angle coverage 0 to 48 deg, frequency coverage 0.2 to 30 GHz and increased Field-of-View. These requirements determine the unique specifications of the proposed new instrument. The telescope design concept we suggest consists of a compact array of fixed dishes on a tiltable, plate-like structure with a collecting area equivalent to a 300m dish. This concept, referred to as the Next Generation Arecibo Telescope (NGAT), meets all of the desired specifications and provides significant new science capabilities to all three research groups at AO. This whitepaper presents a sample of the wide variety of the science that can be achieved with the NGAT, the details of the telescope design concept and the need for the new telescope to be located at the AO site. We also discuss other AO science activities that interlock with the NGAT in the white paper.