Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop an affordable three-family house and an affordable one-family house.
Entity Name: Three Properties, LLC
Entity Address: Newark, New Jersey 07112
Sale Amount: $34,618.80
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $137,900.00
Appraised Amount: $0.00
Contract Period: To be commenced within three (3) months and be completed within twelve (12) months following transfer of property 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)
53 Woodland Avenue/Block 2619/Lot 34/South Ward
51 Woodland Avenue/Block 2619/Lot 36/South Ward
92 West Alpine Street/Block 2693/Lot 61/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 5,769.8 X $6.00 = $34,618.80.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
Deferred 7R2-f 052423
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WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned properties located in South Ward of the City of Newark:
ADDRESS BLOCK LOT SIZE SQ. FEET
53 Woodland Avenue 2619 34 25X95 2,375
51 Woodland Avenue 2619 36 27.10X88 2,384.80
92 West Alpine Street 2693 61 20.2X50 1,010
Total Square Footage: 5,769.8
Purchase Price: $34,618.80 ($6.00 per sf.); and
WHEREAS, the City of Newark ("City") has determined that the above referenced City-owned properties (the "Properties") are no longer ...
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