Title
Dept./ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop properties into four (4) two-family homes.
Entity Name: Blackmon Homes, LLC
Entity Address: Plainfield, New Jersey 07060
Sale Amount: $61,350.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $169,200.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) 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)
192 Fairmount Avenue/Block 262/Lot 19/West Ward
628 South 12th Street/Block 315/Lot 5/South Ward
161 South 8th Street/Block 1812/Lot 28/West Ward
734 Bergen Street/Block 2707/Lot 49/South Ward
Additional Information:
Total Square Footage = 10,225 X $6.00 = $61,350.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
body
WHEREAS, the Department of Economic and Housing Development seeks 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
SIZE
SQ. FEET
192 Fairmount Avenue
262
19
25X100
2,500
628 South 12th Street
161 South 8th Street
315
1812|1010|28
26X100
25X100
2,600
2,500
734 Bergen Street
2707
49
25X105
2,625
Total Square Footage: 10,225 sq. ft.
Purchase Price: $61,350.00 ($6.00 per sf.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "Properties") are no longer needed ...
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