Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To serve as additional trailer parking for the newly constructed warehouse
Entity Name: 54 Lockwood Street Urban Renewal, LLC
Entity Address: 17 Blanchard Street, Newark, New Jersey, 07105
Sale Amount: $197,800.00
Cost Basis: ( ) PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $197,800.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) 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)
335-347 Raymond Blvd Rear /Block 2407/Lot 81/ East Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 24,600 X Negotiated Price = $197,800.00
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 East Ward of the City of Newark:
ADDRESS
BLOCK
LOT
SIZE SQ. FEET
335-347 Raymond Blvd Rear
2407
81
24,600
Total Square Footage: 24,600
Purchase Price: $197,800.00 (Negotiated Price); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "Property") are no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City of Newark is proceeding with the rehabilitation of the area and is conveying ...
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