Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To authorize the execution of a Redevelopment Agreement with Brandywine Acquisition and Development, LLC, as the designated redeveloper of the Evidence Storage Facility as part of a public-private partnership entered into under the Local Redevelopment and Housing Law.
Entity Name: Brandywine Acquisition and Development, LLC
Entity Address: 2 Ponds Edge Drive, Chadds Ford, Pennsylvania 19317
Sale Amount: $264,100.00
Cost Basis: ( ) PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $667,900.00
Appraised Amount: $0.00
Contract Period: Project Schedule attached as Exhibit D
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)
775 Bergen Street/Block 2711/Lot 1/South Ward
777 Bergen Street/Block 2711/Lot 2/South Ward
779-781 Bergen Street/ Block 2711/Lots 3 and 4/South Ward
783 Bergen Street/Block 2711/Lot 6/South Ward
785 Bergen Street/Block 2711/Lot 7/South Ward
787-791 Bergen Street/Block 2711/Lot 8/South Ward
793 Bergen Street/Block 2711/Lot 11/South Ward
178 W. Runyon Street/Block 2711/Lot 53/South Ward
174-176 W. Runyon Street/Block 2711/Lot 54/South Ward
172 W. Runyon Street/Block 2711/Lot 56/South Ward
Additional Information:
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WHEREAS, on June 15, 2005, pursuant to Resolution 7Rdo(AS), the entire City of Newark was designated an "area in need of rehabilitation" as defined by the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., including the properties located at 775 Bergen Street, 777 Bergen Street, 779-781 Bergen Street, 783 Bergen Street, 785 Bergen Stree...
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