Title
Dept./ Agency: Economic & Housing Development
Action: (X) Ratifying (X) Authorizing (X ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: An amendment to complete and correct redevelopment site assemblage as a property inadvertently was omitted from the purchase at the November 19, 2015 auction.
Entity Name: Rodrigo Urgilez
Entity Address: Newark, New Jersey 07104
Sale Amount: $71,000.00
Cost Basis: ( ) $ PSF (X ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $180,500.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of property ownership from the City to the Redeveloper
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
76½ Garside Street/Block 490/Lot 69/Central Ward
Additional Information:
Resolution 7R3-a(AS) adopted on December 16, 2015 accepted the purchaser’s bid for 74-76 Garside Street, Newark, New Jersey 07104, Block 490, Lot 31 in the Central Ward, and also included 76½ Garside Street, Newark, New Jersey 07104, Block 490, Lot 69, which was inadvertently omitted.
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WHEREAS, on November 19, 2015, the Department of Economic and Housing Development conducted a public auction for the sale of City-owned property known as 74-76 Garside Street, Newark, New Jersey, 07104, Block 490, Lot 31; and
WHEREAS, Rodrigo Urgilez (the “Purchaser”), of 75 Mt. Prospect Avenue, Unit 2, Newark, New Jersey 07104, submitted a bid to purchase the above-mentioned properties for Seventy-One Thousand Dollars and Zero Cents ($71,000.00); and
WHEREAS, the Municipal Council, adopted Resolution 7R3-a(AS) on December 16, 2015, which accepted the Purchaser’s bid, and authorized the Deputy Mayor/Director of Economic and Housing Development to effectuate the sale through a Quitclaim Deed; and
WHEREAS, the Purchaser has not yet closed title with the City of Newark; and
WHEREAS, in order to complete the redevelopment of the site the Purchaser must acquire the adjacent City-owned property known as 76 ½ Garside Street, Newark, New Jersey, 07104, Block 490, Lot 69 (the “Property”), which was inadvertently omitted from the above assemblage at the time of the auction; and
WHEREAS, the purchase price listed on Resolution 7R3-a(AS) included the purchase of 74-76 Garside Street and 76 ½ Garside Street, Newark, New Jersey 07104 during the auction; and
WHEREAS, the City of Newark has determined that 76 ½ Garside Street is no longer needed for public use, and pursuant to N.J.S.A. 40A:12A-8(g), is proceeding with the redevelopment of the area and is conveying properties at such prices and upon such terms as it deems reasonable and said conveyance is made in conjunction with the applicable Redevelopment Plan, as amended; and
WHEREAS, the Municipal Council previously adopted Resolution 7RD-o(AS) on June 15, 2005, designating the entire City as an “area in need of rehabilitation” under the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq.; and
WHEREAS, the Municipal Council thereafter adopted Ordinance 6PhS+Fe(S) on August 17, 2005, approving the First Amendment to the Central Ward Redevelopment Plan governing the redevelopment of City-owned properties located within the Central Ward, which includes the Property; and
WHEREAS, the Department of Economic and Housing Development has determined that the Purchaser possesses the proper qualifications and requisite financial resources and capacity to acquire the Property and to redevelop it in accordance with the requirements of N.J.S.A. 40A:12A-8(g), pursuant to the above-mentioned statutory authority; and
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The City of Newark hereby amends and corrects Resolution 7R3-a(AS) adopted on December 16, 2015, to include 76 ½ Garside Street, Newark, New Jersey, 07104, Block 490, Lot 69 (which was inadvertently not included in the Resolution) and accepts the offer of Rodrigo Urgilez to acquire the City-owned property known as 76 ½ Garside Street, Newark, New Jersey, 07104, Block 490, Lot 69, pursuant to the terms and conditions set forth in Resolution 7R3-a(AS), adopted on December 16, 2015.
2. The Deputy Mayor/Director of the Department of Economic and Housing Development is hereby authorized to effectuate the sale of the Property, 76 ½ Garside Street, Newark, New Jersey, 07104, Block 490, Lot 69, through Quitclaim Deed, and all other documents pertaining to the sale of the Property, all in forms subject to the approval of the City’s Corporation Counsel. Said Quitclaim Deed shall have a deed restriction that requires that the redevelopment of the Property to commence within three (3) months and be completed within eighteen (18) months from the transfer of property ownership from the City to the Purchaser, and in all respects and with all provisions, the terms and conditions set forth in Resolution 7R3-a(AS), adopted on December 16, 2015.
3. The Deputy Mayor/Director of the Department of Economic and Housing Development is hereby authorized to execute a Quitclaim Deed to the Purchaser for the Property. Said Quitclaim Deed, conveying title to the Property to the Purchaser, shall be approved as to form and legality by the City’s Corporation Counsel and attested to and acknowledged by the City Clerk.
4. The Director of the Department of Finance is hereby authorized to receive proceeds of the sale and to deposit same as follows: ninety (90) percent of the sale proceeds shall be deposited into the Community and Economic Development Dedicated Trust Fund (026 BS 3210) established under Resolution 7RG adopted on November 6, 1985; and ten (10) percent of the sale proceeds shall be placed in the City’s Affordable Housing Trust Fund (026 BS 3035) established under City Ordinance 6PhS&Ff adopted on June 21, 2006, for the purpose of preserving low and moderate income affordable housing.
STATEMENT
This Resolution authorizes the Mayor of the City of Newark and/or his designee, the Deputy Mayor/Director of the Department of Economic and Housing Development to ratify and amend Resolution 7R3-a(as), adopted on December 16, 2015, to include the acquisition of 76 ½ Garside Street, Newark, New Jersey, 07104, Block 490, Lot 69, through a Quitclaim Deed to Rodrigo Urgilez, 75 Mt. Prospect Avenue, Unit 2, Newark, New Jersey 07104, for redevelopment in accordance with the requirements of N.J.S.A. 40A:12A-8(g) and First Amendment to the Central Ward Redevelopment Plan, and pursuant to the terms and conditions set forth in Resolution 7R3-a(as), adopted on December 16, 2015.