Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate properties as rental or for-sale housing
Entity Name: Green Stories II, LLC
Entity Address: 55 Greenwood Avenue, Montclair, New Jersey 07042
Sale Amount: $27,556.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $375,700.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) 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)
26 Tillinghast Street/Block 3029/Lot 15/South Ward
295 W. Runyon Street/Block 3035/Lot 29/South Ward
Additional Information:
Total Square Footage = 6,889 X $4.00 = $27,556.00
26 Tillinghast Street = 3,264 sf X $4.00 = $13,056.00
295 W. Runyon Street = 3,625 sf X $4.00 = $14,500.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties
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WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned Properties located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
26 Tillinghast Street South 3029 15 32X102 3,264
295 W. Runyon Street South 3035 29 25X145 3,625
Total Square Footage: 6,889
Total Purchase Price: $27,556.00 ($4.00 per sf.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Properties (the "Properties") is no longer needed for public use; and
WHEREAS, pursuant ...
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