Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying ( ) Authorizing (X ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Second Amendment to RDA with Springfield Avenue Marketplace
Entity Name: TDAF I Springfield Avenue Holding Urban Renewal Company, LLC
Entity Address: 799 Central Avenue, Suite 300, Highland Park, IL 60035
Sale Amount:
Cost Basis: ( ) $ PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount:
Appraised Amount:
Contract PeriodContract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
Blocks 236, 237 and 238 and the vacated portions of Beacon and Rankin Streets, now known as Block 236.01, Lots 1.01, 1.02, 1.03 and 1.04 in the Central Ward.
Additional Information: Walmart Project
Resolution 7RDE (AS) 100604; Land sale agreement for redevelopment with Springfield Marketplace, LLC.
Resolution 7RCR (AS) 031605; Revised agreement to land sale agreement and redevelopment of Springfield Market Place.
Resolution 7R3-a (S3) 102108; Amendment to land sale agreement
No Action Taken, November 20, 2012
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WHEREAS, pursuant to Resolution No. 7RDE(A.S.) adopted by the Municipal Council of the City of Newark (the "City") on October 6, 2004, as amended by Resolution No. 7RCR(A.S.) adopted by the Municipal Council of the City on March 16, 2005, the City and Springfield Avenue Marketplace, LLC ("SAM") entered into an Agreement for the Sale of Land and Redevelopment of Springfield Marketplace dated April 6, 2005 (the "Original Agreement"), for the purpose of memorializing the rights and obligations of the parties with respect to the sale of certain real property descri...
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