Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To expand the existing Side Yard at 187 Brunswick Street.
Entity Name: Leyo Alava
Entity Address: 8 Miller Street, 1st Floor, Newark, New Jersey 07114
Sale Amount: $4,152.96
Cost Basis: (X ) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $34,000.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) months following transfer of property ownership 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)
185 1/2 Brunswick Street/Block 2801/Lot 45/South Ward
Additional Information:
Total Square Footage = 1,038.24 X $4.00 = $4,152.96
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 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
SIZE
SQ. FEET
185 1/2 Brunswick Street
2801
45
16.8X61.8
1,038.24
Total Purchase Price: $4,152.96 ($4.00 per sf.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned property (the "Property") is no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City is proceeding with the rehabilitation of the area and is conveying Property at such prices and upon such terms as it deems reasonable, and said conveyance is made in conjunction with the applicable Redevelopm...
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