Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for new construction of seven (7) single-family townhomes.
Entity Name: Bergen and Rose, LLC
Entity Address: Little Ferry, New Jersey 07643
Sale Amount: $54,418.80
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount:
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)
517-519 Bergen Street/Block 2658/ Lot 1/Central Ward
521 Bergen Street/Block 2658/Lot 3/Central Ward
523 Bergen Street/Block 2658/Lot 4/Central Ward
202-206 Rose Street/ Block 2658/ Lot 47/Central Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 9,069.80 X $6.00 = $54,418.80.
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 (the "Property") located in the South Ward of the City of Newark (the "City")
ADDRESS
WARD
BLOCK
LOT
SQ. FEET
517-519 Bergen Street
Central
2658|1010|2,156.8
521 Bergen Street
Central
2658|1010|2,025
523 Bergen Street
Central
2658|1010|2,944
202-206 Rose Street
Central
2658
47
1,944
Total Square Footage: 9,069.80
Total Purchase Price: $54,418.80 ($6.00 per s.f.); and
WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq...
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