Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for the refurbish and rehabilitation of an existing structure adjacent to Entity-owned property.
Entity Name: Stephanie N. Baker
Entity Address: Newark, Jersey 07107
Sale Amount: $20,000.00
Cost Basis: (X) $8.00 PSF ( ) Negotiated ( ) N/A Other
Assessed Amount: $101,800.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed with 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 Property:
(Address/Block/Lot/Ward)
77 South 14th Street/Block 1865/Lot 22/West Ward
Additional Information:
Sale Price: Total Square Footage X $8.00 = 2,500 X $8.00 = $20.000.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
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WHEREAS, the Department of Economic and Housing Development seeks 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
77 South 14th Street
1865
22
25X100 2,500
Purchase Price: $20,000.00 (8.00 s.f); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned property (the "Property") are no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City is proceeding with the rehabilitation of the area...
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