Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To construct four (4) two-family unit homes.
Entity Name: 204-210 Properties, LLC
Entity Address: Belleville, New Jersey 07109
Sale Amount: $34,944.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $107,500.00
Appraised Amount: $0.00
Contract Period: To be commenced within three (3) months and be completed within eighteen (18) months following 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)
204 14th Avenue/Block 282/Lot 46/Central Ward
206 14th Avenue/Block 282/Lot 45/Central Ward
208 14th Avenue/Block 282/Lot 44/Central Ward
210 14th Avenue/Block 282/Lot 43/Central Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 5,824 X $6.00 = $34,944.00.
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 111521
Deferred 7R2-c 120121
Deferred 7R2-c 121521
Failed - 7R2-a 010522
body
WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned properties located in the Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
204 14th Avenue
282
46
20X53.3 1,066
206 14th Avenue
282
45
20X79 1,580
208 14th Avenue
282
44
20X79 1,580
210 14th Avenue
282
43
20X79.9 1,598
Purchase Price: $34,944.00 ($6.00 per sf.); and
WHEREAS, the City of New...
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