Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop two (2) newly construct two-family homes.
Entity Name: Square, LLC
Entity Address: 200 Pine Street, P.O. Box 7125, Roselle, New Jersey 07203-1106
Sale Amount: $80,728.00
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $171,700.00
Appraised Amount: $0.00
Contract Period: To commence with three (3) months and be completed within twelve (12) 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)
146 Dewey Street/Block 3053.023061/ Lot 19/South Ward
153 Dewey Street/Block 3061/Lot 37/South Ward
Additional Information:
Total Price: Square Footage X PSF = 8,072.80 X $10.00 = $80,728.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of city-owned properties.
Deferred 7R2-g 030123
Deferred 7R2-b 031523
Deferred 7R2-a 040523
body
WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned properties located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
146 Dewey Street
3053.02
19
25X168 4,200
153 Dewey Street
3061
37
37.6X103 3,872.80
Total Square Footage: 8,072.80
Purchase Price: $80,728.00 ($10.00 per s.f.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "Propert...
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