Title
Dept/ Agency: Economic and Housing Development Department
Action: ( ) Ratifying ( x ) Authorizing ( x ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: First Amended to Agreement for the Sale and Redevelopment of Land to Broadbelt CMGC, LLC, to amend the Scope of the Project and Extend the Project Schedule/Completion Date
Entity Name: Broadbelt CMGC, LLC
Entity Address: 25 Clifton Avenue, Suite D2204, Newark, New Jersey 07104
Sale Amount: $67,375.00
Cost Basis: (X) $7.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $198,900.00
Appraised Amount: N/A
Contract Period: Pursuant to Exhibit B of the First Amended Agreement for the Sale and Redevelopment of Land
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)
20 9th Avenue/Block 1856/Lot 7/West Ward
338 Orange Street/Block 2848/Lot 6/Central Ward
13 Hecker Street/Block 2848/Lot 11/Central Ward
15 Hecker Street/Block 2848/Lot 12/Central Ward
Additional Information:
body
WHEREAS, on September 24, 2019, the Newark Municipal Council adopted Resolution 7R2-b (s)("Original Resolution"), which authorized the Mayor and/or his designee and the Deputy Mayor/Director of the Department of Economic and Housing Development to enter into and execute an Agreement for the Sale and Redevelopment of Land ("Original Redevelopment Agreement"), for the sale of the following City owned property (the
ADDRESS
WARD
BLOCK
LOT
20 9TH AVENUE
WEST
1856|1010|
338 ORANGE STREET
CENTRAL
2848|1010|
13 HECKER STREET
CENTRAL
2848
11
15 HECKER STREET
CENTRAL
2848
12
to Broadbelt CMGC, LLC, 25 Clifton Avenue, Suite D2204, Newark, New Jersey 07104 ("Redeveloper"), pursuant to the Local Redevelopment and Housing Law, N.J...
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