Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To build three (3) single-family homes, to be sold at an affordable rate to income qualified households earning 100% AMI.
Entity Name: JUMPSTART NEWARK A NJ NONPROFIT CORPORATION
Entity Address: 200 Renner Avenue, Suite 2, Newark, New Jersey 07112
Sale Amount: $67,050.00
Cost Basis: (X) $18.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $43,600.00
Appraised Amount: n/a
Contract Period: To commence within three (3) months and be completed within eighteen (18) 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)
32 South 8th Street/Block 1854/Lot 38/West Ward
28 South 8th Street/Block 1854/Lot 40/West Ward
24 South 8th Street/Block 1854/Lot 42/West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 3,725 X $18.00 = $67,050.00.
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
32 South 8th Street
1854
38
25X49 1,225
28 South 8th Street
1854
40
25X50 1,250
24 South 8th Street
1854
42
25X50 1,250
Total Square Footage: 3,725
Purchase Pric...
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