Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate property to expand local community daycare center
Entity Name: Devramalena, LLC
Entity Address: 37 Virginia Avenue, West Orange, New Jersey 07052
Sale Amount: $23,000.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $20,600.00
Appraised Amount: $0.00
Contract Period: To commence 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)
20-28 Marsac Place (Rear)/Block 4137/Lot 15/West Ward
Additional Information:
Total Square Footage: 5,750 X $4.00 = $23,000.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Property
Failed 7R2-f 111317
Deferred 7R2-c 120617
body
WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned Property located in the West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SQ. FEET
20-28 Marsac Place (Rear) West 4137 15 5,750
Total Purchase Price: $23,000.00 ($4.00 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 sai...
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