Title
Dept/ Agency: Water and Sewer Utilities
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Intergovernmental Agreement
Purpose: City of Newark Property Sale required under the Eminent Domain Act
Entity Name: State of New Jersey, Department of Transportation (NJDOT)
Entity Address: 1035 Parkway Avenue, P.O. Box 600, Trenton, New Jersey 08625-0600
Contract Amount: $5,915.00
Funding Source: N/A
Contract Period: N/A
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) N/A
Additional Information:
Sale of city-owned property located at 2746 NJ 23, Hardyston, New Jersey 07460 (Block 36, Lot 56).
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WHEREAS, The State of New Jersey, through the Department of Transportation (NJDOT or State) is in the process of designing improvements at the Route 23 Hardyston Township Project; and
WHEREAS, the City of Newark owns a portion of the property located at 2746 NJ 23, Hardyston, New Jersey 07460, Block 36, Lot 56, (City Property) which is within the proposed site of the planned construction. The property is also identified as Route: 23, Section: 6, Parcel: 60A and 60B in the State's Route 23 Hardyston Township Project plans; and
WHEREAS, the NJDOT wants to acquire the City Property in accordance with the Eminent Domain Act; and
WHEREAS, the NJDOT has hired real estate appraiser BBG, Inc., 205 Main Street, Chatham, New Jersey 07928, to determine the Fair Market Value of the property; and
WHEREAS, the appraisal report submitted by BBG, Inc., and obtained by NJDOT has estimated a fair market value of five thousand nine hundred and fifteen dollars and zero cents ($5,915.00) for the city property; and
WHEREAS, the State agrees with the estimated compensation of five thousand nine hundred and fifteen dollars and zero cents ($5,915.00) for the ...
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