Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop property into twenty-three (23) residential units for the disabled, first-time home buyers, seniors, and veterans.
Entity Name: Rose Cap Holdings, LLC
Entity Address: Newark, New Jersey 07102
Sale Amount: $154,608.00
Cost Basis: (X) $8.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $178,300.00
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 Properties:
(Address/Block/Lot/Ward)
243-249 Rose Street/Block 2611/Lots 52-55/Central Ward
255 Rose Street/ Block 2611/Lot 58/Central Ward
257 Rose Street/ Block 2611/Lot 59/Central Ward
2871/2 Rose Street/ Block 2612/Lot 44/Central Ward
313 Rose Street/ Block 2612/Lot 56/Central Ward
315-317 Rose Street/ Block 2612/Lot 57/Central Ward
Additional Information:
Total Price: Square Footage X PSF = $8.00 X 19,326 = $154,608.00.
Sales 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 Department of Economic and Housing Development seeks to approve the sale and redevelopment of the following City-owned Properties located in the Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
243-249 Rose Street
2611
52-55
100X98.3 9,830
255 Rose Street
2611
58
2...
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