Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop four (4) two-family residential homes.
Entity Name: Jarid Jamar Construction Company, Inc.
Entity Address: 9 Weber Road, West Orange, New Jersey 07052
Sale Amount: $64,980.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $176,700.00
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)
474 S 16th Street/Block 328/Lot 38/West Ward
476 S 14th Street/Block 330/Lot 33/West Ward
286-288 S 11th Street/Block 1796/Lot 66/West Ward
111 S 9th Street/Block 1827/Lot 17/West Ward
Additional Information:
Total Purchase Price: Square Footage x PSF = 10,830. X $6.00 = $64,980.00
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
SIZE
SQ. FEET
474 S 16th St.
328
38
25X100
2,500.
476 S 14th St.
330
33
25X100
2,500.
286-288 S 11th St.
1796
66
33.3X100
3,330.
111 S 9th St.
1827
17
25X100
2,500.
Total Square Footage: 10,830.
Total Purchase Price: $64,980.00 ($6.00 per sf.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Properties (the "Properties") are no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 4...
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