Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Construction of a residential private parking lot for adjacent owner occupied housing.
Entity Name: Roxanna Castro-Ortiz
Entity Address: 276 North 7th Street, Newark, New Jersey 07107
Sale Amount: $7,640.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $17,500.00
Appraised Amount: $0.00
Contract Period: To be commenced within three (3) months and be completed within twelve (12) months following transfer of property 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)
278 North 7th Street/Block 1929/Lot 3/Central Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 1,910 X $4.00 = $7,640.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
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WHEREAS, the purpose of this resolution to approve the sale and redevelopment of the following City-owned property located in the Central Ward of the City of Newark:
ADDRESS BLOCK LOT SIZE SQ. FEET
278 North 7th Street 1929 3 19.1X100 1,910
Purchase Price: $7,640.00 ($4.00 per sf.); and
WHEREAS, the City of Newark (the "City") 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 is proceeding with the rehabilitation of the area and is conveying Property at such prices and upon such terms as it deems reasonable and said conveyance is made in conju...
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