Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Ancillary parking for the adjacent business, Ambassador Fish and Chicken
Entity Name: Talat Akarah
Entity Address: 134 Bloomfield Avenue, Paterson, New Jersey 07503
Sale Amount: $15,495.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $31,300.00
Appraised Amount: $0.00
Contract Period: To be commenced within three (3) months and be completed within six (6) months from the transfer of ownership by the City
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)
376 S 10th Street/Block 267/Lot 10/West Ward
Additional Information:
Total Square Footage = 2,582.5 X $6.00 = $15,495.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties
body
WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned Property located in the West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
376 S 10th Street West 267 10 25X103.3 2,582.5
Total Purchase Price: $15,495.00 ($6.00 per sf.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Property (the "Property") is no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City of Newark is proceeding with the rehabilitation 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 applica...
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