Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To create a parking lot for adjacent redeveloper-owned properties.
Entity Name: Christ Life Community Development, Inc.
Entity Address: Maywood New Jersey 07607
Sale Amount: $57,720.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $193,500.00
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 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)
23-27 4th Street/Block 1848/Lot 21/West Ward
29 4th Street/Block 1848/Lot 23/West Ward
31 4th Street/Block 1848/Lot 24/West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 9,620 X $6.00 = $57,720.00.
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
BLOCK
LOT(S)
SIZE SQ. FEET
23-27 4th Street
1848
21
52X90 4,680
29 4th Street
1848
23
26X95 2,470
31 4th Street
1848
24
26X95 2,470
Total Square Footage: 9,620 sq. ft.
Purchase Price: $57,720.00 ($6.00 per s.f.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "Properties") are no longer needed ...
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