Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To build a three-family contemporary townhome and build two (2) townhomes.
Entity Name: Seymour and Lyons, LLC
Entity Address: East Orange, New Jersey 07107
Sale Amount: $59,400.00
Cost Basis: ( ) $ PSF ( ) Negotiated ( ) N/A (X) Other: $59,400.00
Assessed Amount: $59,400.00
Appraised Amount: $0.00
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)
367-369 Seymour Avenue/Block 3603/Lot 7/South Ward
253-255 Lyons Avenue/Block 3631/Lot 12/South Ward
Additional Information:
Sale Price: Assessed Amount = $59,400.00.
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 Property located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
367-369 Seymour Avenue
3603|1010|50X100 5,000
253-255 Lyons Avenue
3631
12
40.1X95.11 3,813.911
Total Square Footage: 8,813.911
Purchase Price: $59,400.00 (assessed amount.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned Property (the "Property") are no longer needed for pub...
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