Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate and rent the property to open a restaurant.
Entity Name: Abdul Roberson
Entity Address: Milford, New Jersey 08848
Sale Amount: $57,555.00
Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other: 45% of Assessed Amount
Assessed Amount: $127,900.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) months following transfer of property ownership from the City of 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)
263 Littleton Avenue/Block 278/Lot 5/Central Ward
Additional Information:
Sale Price: Assessed Amount X 45% = 127,900.00 X .45 = $57,555.00.
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 purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
263 Littleton Avenue
278|1010|25X100 2,500
Total Square Footage: 2,500
Purchase Price: $57,555.00 (45% of assessed amount); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned property (the "Property") is 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 and is conveying property at such prices and upon such ...
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