Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitating the land-locked parcel to provide ancillary parking for the adjacent tenants; and within sixty (60) days of closing shall merge the Property with the contiguously owned property located at 539 Ferry Street, Block 2480, Lot 3
Entity Name: Theresa M. Pereira
Entity Address: 87 William Street, Kearny, New Jersey 07032
Sale Amount: $5,000.00
Cost Basis: (X) $4.20 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $187,500.00
Appraised Amount: N/A
Contract Period: To commence within 3 months and be completed within 18 months from the transfer of title.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions (X) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
10-12 Lentz Avenue Rear/Block 2480/Lot 57/East Ward
Additional Information:
Approx. $4.202 per sq. ft.
body
WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned property located in the East Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
10-12 Lentz Ave. Rear East 2480 57 50X23.8 1,190.
Total Purchase Price: $5,000.00; and
WHEREAS, the City of Newark 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 of Newark is proceeding with the redevelopment of the area and is conveying properties at such prices and upon such terms as it deems reasonable and said co...
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