Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate properties as rental or for-sale housing.
Entity Name: AC and J Restoration Group, Corporation
Entity Address: 836 S 19th Street, Newark, New Jersey 07108
Sale Amount: $55,847.20
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $520,400.00
Appraised Amount: $0.00
Contract Period: To commence within (3) three months and be completed within (12) twelve months from the transfer of 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)
37 Shanley Avenue/Block 2652/Lot 14/South Ward
796 S 14th Street/Block 2648/Lot 41/South Ward
786 S 17th Street/Block 2636/Lot 36/South Ward
770 S 17th Street/Block 2636/Lot 43/South Ward
768 S 17th Street/Block 2636/Lot 44/South Ward
Additional Information:
Total Square Footage = 13,961.8 X $4.00 = $55,847.20
Sale at prices set forth by Ordinance 6S&Fh, adopted 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 rehabilitation of the following City-owned Properties located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
37 Shanley Avenue South 2652 14 37X111.4 4,121.8
796 S 14th Street South 2648 41 25X100 2,500.
786 S 17th Street South 2636 36 25X100 2,500.
770 S 17th Street South 2636 43 24X100 2,400.
768 S 17th Street South 2636 44 24.4X100 2,440.
Total Square Footage: 13,961.8
Total Purchase Price: $55,847.20 ($...
Click here for full text