Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To repave and reline the existing parking lot and replace existing fence.
Entity Name: Libby Heller
Entity Address: 25-33 Edison Place, Newark, New Jersey 07102
Sale Amount: $297,000.00 minus a remediation credit in an amount not to exceed $64,445.00
Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $171,400.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) months following the 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)
17-19 Edison Place/164/92/East Ward
Additional Information:
Total Price: Negotiated Price $297,000.00 = $297,000.00.
Sale at price set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
The estimated cost to remediate the existing property, which includes resurfacing, disposal of asphalt and fencing, is $64,445.00.
body
WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the East Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
17-19 Edison Place
164
92
4400
Purchase Price: $297,000.00 minus a remediation credit in an amount not to exceed $64,445.00; and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned property ...
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