Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate the existing property to create rental or for-sale housing.
Entity Name: Anthony Dellisanti
Entity Address: 18 Orchard Street, Bloomfield, New Jersey 07003
Sale Amount: $43,276.80
Cost Basis: (X) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $126,000.00
Appraised Amount: $0.00
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)
66 Kearney Street/Block 529/Lot 15/North Ward
Additional Information:
Sale Price: (Total Square Footage X PSF) = 3,606.4 X $12.00 = $43,276.80
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
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WHEREAS, the purpose of this resolution to approve the sale and redevelopment of the following City-owned Property located in the North Ward of the City of Newark:
ADDRESS
WARD
BLOCK
LOT
SIZE
SQ. FEET
66 Kearney St
North
529
15
32x112.7
3,606.4
Purchase Price: $43,276.80 ($12.00 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 Redevelopment Plan, as amended; and
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