Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for a newly constructed vocational training facility with classrooms and new construction of a mixed-use development consisting of (18) affordable housing residential units, (24) onsite parking spaces, and commercial and community space.
Entity Name: YouthBuild Newark, Inc.
Entity Address: 571 Central Avenue, Newark, New Jersey 07107
Sale Amount: $81,120.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A (X) Other
Assessed Amount: $107,300.00
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)
144-146 South 13th Street/Block 1859/Lot 40/West Ward
134 South 11th Street/ Block 1857/Lot 41/West Ward
130-132 South 11th Street/ Block 1857/Lot 42/West Ward
128 South 11th Street/ Block 1857/Lot 44/West Ward
Additional Information:
Sale Price: Total Square Footage X $6.00 = $81,120.00.
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-g 011024
body
WHEREAS, the Department of Economic and Housing Development seeks to approve the sale and redevelopment of the following City-owned Property located in the West Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
144-146 South 13th Street
1859
40
35X100 3,500
13...
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