Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate property into a construction training lab for its students.
Entity Name: YouthBuild Newark, Inc.
Entity Address: 571 Central Avenue, Newark, New Jersey 07107
Sale Amount: $8,200.00
Cost Basis: (X) $2.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $234,100.00
Appraised Amount: N/A
Contract Period: To be commenced within three (3) months and be completed within twelve (12) 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)
131-133 S 12th Street/Block 1859/Lot 29/West Ward
Additional Information:
Total Square Footage= 4,100. X $2.00 = $8,200.00
Private sale to a community non-profit for a training facility.
body
WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned property located in the West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
131-133 S 12th Street West 1859 29 41X100 4,100.
Total Purchase Price: $8,200.00 ($2.00 per sf); and
WHEREAS, the City of Newark has determined that the above referenced City-owned property (the "Property") is no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City of Newark is proceeding with the rehabilitation of the area and is conveying properties at such prices and upon such terms as it deems reasonable and said conveyance is made in conjunction with the applicable Redevelo...
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