Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: New construction of five (5) 2-family homes to sell at market rate.
Entity Name: Global Houz LLC
Entity Address: 124 South Orange Avenue, South Orange, New Jersey 07079
Sale Amount: $182,562.24
Cost Basis: ( X ) $14.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $173,700.00
Appraised Amount: N/A
Contract Period: To commence within three (3) months and be completed within 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)
736 South 20th Street/ Block 367/Lot 59/ South Ward
738 South 20th Street/ Block 367/Lot 58/ South Ward
486 Avon Avenue/ Block 2643/Lot 2/ South Ward
743-745 South 11th Street/ Block 2631/Lot 15,16/ South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 13,040.16 X $14.00 = $182,562.24
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 located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
736 South 20th Street
367
59
28X99.11 2,775.08
738 South 20th Street
367
58
28X99.11 2,775.08
486 Avon Avenue
2643
2
25X99.6 2,490
743-745 South 11th...
Click here for full text