Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for new construction of a two-family home and rehabilitation of a three-family home to sell at market rate to City of Newark employees.
Entity Name: Community Collaborations, LLC
Entity Address: 187 Livingston Street, Newark, New Jersey 07108
Sale Amount: $47,250.00
Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $119,800.00
Appraised Amount: $0.00
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)
780 Bergen Street/Block 2712/Lot 39/South Ward
763 South 20th Street/ Block 368/Lot 12/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 5,250 X $9.00 = $47,250.00.
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-i 090524
Deferred 7R2-c 091824
Deferred 7R2-c 100224
body
WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
780 Bergen Street
2712
39
25X105 2,625
763 South 20th Street
368
12
25X105 2,625
Total Square Footage: 5,250
Purchase Price: $47,250.00 (9.00 per s.f.); and
WHEREAS, the City of Newark...
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