Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Agreement to develop parking, fencing, and landscaping on a right-of-way disposal parcel
Entity Name: Premier Framing, LLC.
Entity Address: 298-318 Wilson Avenue, Newark, New Jersey 07105
Sale Amount: $59,580.00
Cost Basis: (X) $5.00 PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $0.00
Appraised Amount: $0.00
Contract Period: To be commenced within three (3) months of transfer of ownership by the City and completed within twelve (12) months of transfer
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)
298-318 Wilson Ave., Newark, New Jersey 07105/N.A./N.A./East Ward
Additional Information:
The parcel of real property shown on the official tax map of the City of Newark as the westerly right-of-way of Avenue L beginning at a point located in the existing southerly line of Wilson Avenue, having neither a block or lot number, located in the East Ward of the City, and more commonly known as R.O.W. Disposal Parcel 1, as defined in Exhibit A.
Deferred 7R3-g 090816
Deferred 7R3-b (s) 091316
body
Whereas, the purpose of this resolution is to approve the sale and redevelopment of the following City-owned Property located in the East Ward of the City of Newark and described in more detail in the Property Description, attached hereto as Exhibit A, and made a apart of herein.
ADDRESS WARD BLOCK LOT SQ. FEET
N/A (R.O.W.) East N/A N/A 11,916
Total Square Footage: 11,916
Total Purchase Price: $59,580.00 ($5.00 per sf); and
WHEREAS, the City of Ne...
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