Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Redevelop two contiguous vacant land parcels into 3-story townhome style apartments.
Entity Name: MCI Construction Services, LLC
Entity Address:136 Tiffany Boulevard, Suite 335, Newark, New Jersey 07104
Sale Amount: $26,720.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $112,200.00
Appraised Amount: N/A
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
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
400-402 Avon Avenue/Block 2648/Lot 51/South Ward
404 Avon Avenue/Block 2648/Lot 49/South Ward
Additional Information:
6,680.sq. ft. X $4.00 = $26,720.00
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WHEREAS, the purpose of this resolution is to approve the sale and redevelopment, as may be applicable, of the following City-owned properties located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
400-402 Avon Ave. South 2648 51 33.4X100 3,340.
404 Avon Ave. South 2648 49 33.4X100 3,340.
Total Square Footage: 6,680.
Total Purchase Price: $26,720.00 ($4.00/sq. ft.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned properties (the "Properties") are 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 redevelopment of the area and is conveying...
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