Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To utilize City-owned property to restore a historic home to its original condition.
Entity Name: Saint Holdings of New Jersey, LLC
Entity Address: Colonia, New Jersey 07067
Sale Amount: $67,500.00
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $256,100.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) months following the transfer of property ownership by the City
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)
33-35 Randolph Place/Block 3041/Lot 39/South Ward
Additional Information:
Total Price: Square Footage X PSF = 6,750 X $10.00 = $67,500.00.
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-d 111422
Deferred 7R2-d (s) 112222
body
WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
33-35 Randolph Place
3041
39
50X135 6,750
Purchase Price: $67,500.00 ($10.00 per s.f.); 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 of Newark is proceeding with the rehabilitation of the area and is conveying propert...
Click here for full text