Title
Dept./ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing (X) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To amend Resolution 7R2-j(AS) adopted on August 19, 2020, to change the name of the redeveloper and authorizing the First Amended and Restated Agreement for the Sale and Redevelopment of Land with Thomas Street Urban Renewal, LLC.
Entity Name: Thomas Street Urban Renewal, LLC
Entity Address: 300 Wilson Avenue, Newark, New Jersey 07105
Sale Amount: $ 12,599.16
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $24,000.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twenty-four (24) months following transfer of property ownership from 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)
184 Thomas Street/Block 1164/Lot 10/East Ward
body
WHEREAS, the City of Newark (the "City") is authorized, pursuant to N.J.S.A. 40A:12A-8(g), to sell City-owned properties, no longer needed for public use, in conjunction with an applicable redevelopment plan, at such prices and upon such terms as it deems reasonable, for the purpose of rehabilitating the area; and
WHEREAS, on August 19, 2020, the Newark Municipal Council adopted Resolution 7R2-j (AS) (the "Original Resolution"), which authorized the sale of the following City-owned properties ("Properties") located within the East Ward, no longer needed for public use, in accordance with the East Ward Redevelopment Plan, as amended, which governs the redevelopment of city-owned properties located within the East Ward and identified as:
ADDRESS
BLOCK
LOT
SIZE
SQ. FE...
Click here for full text