Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop property into a new two-family home.
Entity Name: Valley Carpentry and Painting, LLC
Entity Address: Andover, New Jersey 07821
Sale Amount: $15,000.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $21,300.00
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)
543 13th Avenue/Block 1794/Lot 27/West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 2,500.0 X $6.00 = $15,000.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
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WHEREAS, the Department of Economic and Housing Development seeks 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
543 13th Avenue
1794
27
25X100
2,500.0
Total Square Footage: 2,500
Purchase Price: $15,000.00 ($6.00 per s.f.); 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 of Newark is proceeding with the rehabilitation of the area and is conveying property at such prices and upon such terms...
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