Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitation of the property as ancillary parking to the adjacent Daycare and Church.
Entity Name: Gospel Light Church of God in Christ Jesus, Apostolic, Inc.
Entity Address: 684 Springfield Avenue, Newark, New Jersey 07103
Sale Amount: $10,000.00
Cost Basis: ( ) $ PSF (X ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $50,600.00
Appraised Amount: $20,000.00
Contract Period: To be commenced within 3 months and be completed within 18 months from the transfer of ownership by the City.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions (X ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
682 Springfield Avenue/Block 366/Lot 27/South Ward
Additional Information:
Approximately $5.76 per sq. ft.
body
WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned property located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
682 Springfield Ave. South 366 27 27.3X63.6 1,736.28
Total Purchase Price: $10,000.00 (approximately $5.76 psf); 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 app...
Click here for full text