Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate the property to create rental or for-sale housing.
Entity Name: Quia T. Zellars
Entity Address: 90 Keer Avenue, Newark, New Jersey 07112
Sale Amount: $28,980.00
Cost Basis: (X ) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $256,500.00
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)
123-125 Leslie Street/Block 3067/Lot 15.03/South Ward
Additional Information:
Total Sale Price: Total Square Footage X PSF = 2,898.00 X $10.00 = $28,980.00.
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 Department of Economic and Housing Development seeks 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
SQ. FEET
123-125 Leslie Street
3067
15.03
2,898.00
Purchase Price: $28,980.00 ($10.00 per sf.)
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 is proceeding with the rehabilitation of the area and is conveying Property at such prices and upon such terms as it deems reasonable, and said conveyance is made in conjunction with the applicable Redev...
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