Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for the construction of three (3) new three-family homes for sale at market rate value with affordable housing restrictions for rentals.
Entity Name: Jarid Jamar Construction Company, Inc.
Entity Address: West Orange, New Jersey 07052
Sale Amount: $81,000.00
Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $287,500.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) 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)
295 S. 18th Street/Block 1793/Lot 3/West Ward
297-299 S. 18th Street/Block 1793/Lot 5/West Ward
301 S. 18th Street/Block 1793/Lot 6/West Ward
Additional Information:
Sale Price: Total Square Footage XPSF = 9,000 X $9.00 = $81,000.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
No Action Taken 7R2-g 111323
body
WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the West Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
295 S. 18th Street
1793
3
30X100 3,000
297-299 S. 18th Street
1793
5
30X100 3,000
301 S. 18th Street
1793
6
30X100 3,000
Total Square Footage: 9,000
Purchase...
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