Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop properties into one (1) one-family home, three (3) two-family homes and one (1) three-family home.
Entity Name: Prime RRAM Homes, LLC
Entity Address: 683 Kearny Avenue, Apt. 1, Kearny, New Jersey 07032
Sale Amount: $87,420.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $184,000.00
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)
120 Elizabeth Avenue/Block 2784/Lot 1/South Ward
129 Elizabeth Avenue/Block 2697/Lot 8/South Ward
31 Brookdale Avenue/Block 4065/Lot 78/West Ward
76 Van Ness Place/Block 3032/Lot 42/South Ward
147 Isabella Avenue/Block 4036/Lot 32/West Ward
Additional Information:
Total Price: Square Footage X PSF = 14,570 X $6.00 = $87,420.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
No Action Taken 7R2-g (s) 081721
body
WHEREAS, the purpose of this Resolution to approve the sale and redevelopment of the following City-owned Properties located in the West Ward and South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE
SQ. FEET
120 Elizabeth Avenue
2784|1010|30X100
3,000
129 Elizabeth Avenue
2697|1010|25X92.4
2,310
31 Brookdale Avenue
4065
78
30X100
3000
76 Van Ness Place
3032
42
37.6X100
3760
147 Isa...
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