Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate the properties as affordable rental housing (3 structures) and convert two (2) adjacent undersized vacant lots into side yard parking.
Entity Name: Jamar Piercy
Entity Address: Newark, New Jersey 07108
Sale Amount: $88,625.00
Cost Basis: (X) $10.00 and $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $182,800.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) 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)
187 South 10th Street/Block 1814/Lot 6/West Ward
189 South 10th Street/Block 1814/Lot 7/West Ward
185 South 10th Street/Block 1814/Lot 67/West Ward
183 South 10th Street/Block 1814/Lot 66/West Ward
899 South 20th Street/Block 3015.01/Lot 3/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 71,385.00 X $10.00 = $71,385.00 (3) Structures/4,310 X $4.00 = $17,240.00 (2) Vacant Lots.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
Failed 7R2-e 012022
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WHEREAS, the Department of Economic and Housing Development seeks to approve the sale and redevelopment of the following City-owned properties located in the South Ward and West Ward of the City of Newark:
ADDRESS BLOCK LOT SIZE SQ. FEET
187 South 10th Street 1814 6 21.6X100 2,160.0
189 South 10th Street 1814 7 21.5X100...
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