Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Develop new and rehabilitated affordable apartments and homes.
Entity Name: DDA Pioneer Investment Group, LLC.
Entity Address: 1219 Liberty Avenue, Suite 78, Hillside, New Jersey 07205
Sale Amount: $86,404.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $444,300.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of 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)
536 S. 20th Street/Block 337/Lot 42/West Ward
538 S. 20th Street/Block 337/Lot 41/West Ward
525-527 S. 19th Street/Block 337/Lots 12, 13/ West Ward
529 S. 19th Street/Block 337/Lot 14/West Ward
531 S. 19th Street/Block 337/Lot 15/West Ward
533 S. 19th Street/Block 337/Lot 16/West Ward
4961/2 S. 18th Street/Block 326/Lot 47/West Ward
502 S. 18th Street/Block 326/Lot 29/West Ward
Additional Information:
Total Square Footage = 21,601 X $4.00 = $86,404.00
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
WARD
SIZE
SQ FEET
536 S 20th St.
337
42
West
25X100
2,500
538 S 20th St
337
41
West
25X100
2,500
525-527 S 19th St
337
12, 13
West
50X100
5,000
529 S 19th St
337
14
West
24.11X100
2,411
531 S 19th St
337
15
West
25.1X100
2,510
53...
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