Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide new construction of one (1) six (6) unit dwelling and one (1) three (3) unit dwelling, both having affordable rent and renovation of a two-family house with affordable rent.
Entity Name: WBS Real Estate Developing, LLC
Entity Address: Irvington, New Jersey 07111
Sale Amount: $72,000.00
Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $268,400.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (24) 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)
19 Ferdinand Street/Block 1789.01/Lot 15/West Ward
21 Ferdinand Street/Block 1789.01/Lot 16/West Ward
293 South 18th Street/Block 1793 /Lot 2/West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 8,000 X $9.00 = $72,000.00.
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 purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the West Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
19 Ferdinand Street
1789.01
15
25X100 2,500
21 Ferdinand Street
1789.01
16
25X100 2,500
293 South 18th Street
1793
2
30X100 3,000...
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