Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: New construction of two, (2) 2-family homes to sell at market rate
Entity Name: Joao D. Fonseca
Entity Address: 2059 Tyler Street, 1st Fl, Union, New Jersey 07083
Sale Amount: $50,000.00
Cost Basis: ( X ) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $42,600.00
Appraised Amount:
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)
312 South 20th Street/Block 1794/Lot 49/ West Ward
314 South 20th Street/ Block 1794/Lot 48/ West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 5,000 X $10.00 = $50,000.00.
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 purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the West Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
312 South 20th Street
1794
49
25X100 2,500
314 South 20th Street
1794
48
25X100 2,500
Total Square Footage: 5,000
Purchase Price: $50,000.00 ($10.00 per s.f.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "Property") are no longer needed for public use; and
WHER...
Click here for full text