Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Redevelop the properties as affordable rental or for-sale housing.
Entity Name: Ascension Capital Partners I, LLC.
Entity Address: 59 Lincoln Park, Newark, New Jersey 07102
Sale Amount: $94,791.60
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $189,500.00
Appraised Amount: $0.00
Contract Period: To be commenced within three (3) months and be completed within eighteen (18) months from the transfer of 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)
521 S 15th Street/Block 333/Lot 19/West Ward
523 S 15th Street/Block 333/Lot 20/West Ward
518 S 16th Street/Block 333/Lot 58/West Ward
520-526 S 16th Street/Block 333/Lot 59/West Ward
528-530 S 16th Street/Block 333/Lot 64/West Ward
538-540 S 16th Street/Block 333/Lot 69/West Ward
Additional Information:
Total Square Footage = 23,697.9 X $4.00 = $94,791.60
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 West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
521 S 15th Street West 333 19 31X100 3,100.0
523 S 15th Street West 333 20 26.7X100 2,670.0
518 S 16th Street West 333 58 32X80 ...
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