Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate the property as affordable rental or for-sale housing.
Entity Name: Newark Empowerment Group, LLC.
Entity Address: 34 Millington Avenue, Newark, New Jersey 07108
Sale Amount: $20,000.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $118,400.00
Appraised Amount: $0.00
Contract Period: To be commenced 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)
392-394 Leslie Street/Block 3724-02/Lot 82/South Ward
Additional Information:
(Address/Ward/Block/Lot/Size/Sq. Feet)
392-394 Leslie Street/South/3724-02/82/50X100/5,000
Total Purchase Price: $20,000.00 ($4.00 per sf.)
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Property
body
WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned Property located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
392-394 Leslie Street South 3724-02 82 50X100 5,000
Total Purchase Price: $20,000.00 ($4.00 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 ...
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