Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Construction of eight (8) 2-3 family dwellings
Entity Name: S 12th View LLC
Entity Address: 40 Clifton Street, Newark, New Jersey, 07114
Sale Amount: $1,277,800.00
Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $187,500.00
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)
317-319 S 12th Street /Block 1785/ Lot 1/ West Ward
321-323 S 12th Street /Block 1785/ Lot 2/ West Ward
325 S 12th Street /Block 1785/ Lot 4/ West Ward
327 S 12th Street /Block 1785/ Lot 5/ West Ward
329 S 12th Street /Block 1785/ Lot 6/ West Ward
331-333 S 12th Street /Block 1785/ Lot 7/ West Ward
335 S 12th Street/Block 1785/Lot 8/ West Ward
Additional Information:
Sale Price: Negotiated = $1,277,800.00
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 property located in the West Ward of the City of Newark:
ADDRESS
BLOCK
LOT
SIZE SQ. FEET
317-319 S 12th Street
1785
|910| 42.7X100 4,270
321-323 S 12th Street
1785
|910| 56X100 5,600
325 S 12th Street
1785
|910| 28X100 2,800
327 S 12th Street
1785
|910| 28X100 2,800
329 S 12th Street
1785
|910| 28X100 2,800
331-333 S 12th Street
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