Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment Agreement
Purpose: To provide for the new construction of a mixed-use, mixed-income building with first floor commercial space and community benefit/social service space and approximately fifty-one (51) residential units.
Entity Name: Harlem Congregations for Community Improvement, Inc.
Entity Address: New York, New York 10039
Sale Amount: $109,714.50
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $77,000.00
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)
59-65 Avon Avenue/ Block 2593/ Lots 15/Additional Lots 16, 17 and 18/Central Ward
67 Avon Avenue/Block 2593/Lot 19/Central Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 18,285.75 X $6.00 = $109,714.50.
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 (the "Properties") located in the Central Ward of the City of Newark (the "City")
ADDRESS
WARD
BLOCK
LOT
SIZE
SQ. FEET
59-65 Avon Avenue
Central
2593
15
(Add'l lots 16,17 & 18)
127.5X119.3
15,210.75
67 Avon Avenue
Central
2593
19
25X123
3075.00
Total Square Footage: 18,285.75
Total Purchase Price: $109,714.50 ($6.00 per sf); and
WHEREAS, th...
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