Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: New construction of two specialized resource and wellness centers, inclusive of hydroponics/aquaponics and greenhouse infrastructure
Entity Name: Urban Seeds Grow a New Jersey Nonprofit Corporation
Entity Address: 25 Manchester Place, Apt 3A, Newark, New Jersey 07104
Sale Amount: $42,570.00
Cost Basis: ( X ) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $96,800.00
Appraised Amount: $N/A
Contract Period: To commence within three (3) months and be completed within twenty-four (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)
29 Grafton Avenue/Block 771/ Lot 50/ North Ward
42-44 Elizabeth Avenue/ Block 2801/ Lot 1/ South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 4,730 X $9.00 = $42,570.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
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WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned properties located in the North Ward and South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
29 Grafton Avenue
771
50
24X80 1,920
42-44 Elizabeth Avenue
2801
1
2810 SF 2,810
Total Square Footage: 4,730
Purchase Price: $42,570.00 (9.00 per s.f.); and
WHEREAS, the City of Newa...
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