Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide new construction of an affordable one-family home and two (2) market rate three-family homes.
Entity Name: HDMH Development Corp
Entity Address: 60 Evergreen Place, East Orange, New Jersey 07018
Sale Amount: $118,237.77
Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $71,900.00
Appraised Amount: $0.00
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)
41-43 Randolph Place/ Block 3041/Lot 35/South Ward
199 Ridgewood Avenue/Block 2703/Lot 23/South Ward
201-203 Ridgewood Avenue/Block 2703/Lot 24/ South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 13,137.53 X $9.00 = $118,237.77.
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-e 110123
No Action Taken 7R2-c 111323
body
WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
41-43 Randolph Place
3041
35
56.3X93.10 5,241.53
199 Ridgewood Avenue
2703
23
37.6X105 3,948
201-203 Ridgewood Avenue
2703
24
37.6X105 3,948
Total Square Foota...
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