Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop city-owned properties approximately eight (3) three-story townhome development consisting of eighteen (18) residential units.
Entity Name: RSL Enterprises, LLC
Entity Address: Edgewater, New Jersey 07020
Sale Amount: $201,373.80
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $174,800.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twenty-four (24) months following 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)
466-468 West Market Street/Block 1854/Lot 47/West Ward
470-472 West Market Street/Block 154/Lot 48/West Ward
474-476 West Market Street/Block 1854/Lot 1/West Ward
8-16 South 8th Street/Block 1854/Lot 46/West Ward
18-22 South 8th Street/Block 1854/Lot 43/West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 20,137.38 X $10.00 = $201,373.80.
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 redevelopment of the following City-owned properties located in the West Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
466-468 West Market Street
470-472 West Market Street
474-476 West Market Street
8-16 South 8th Street 18-22 South 8th Street
1854
1854
1854
1854
1854
...
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