Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: New construction of three, two (2) or three (3) family homes to rent at or below market rate
Entity Name: T& L Homeworks LLC
Entity Address: 8 Oak Hill Road, Branchburg, New Jersey 08853
Sale Amount: $127,316.00
Cost Basis: (X) $14.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $67,600.00
Appraised Amount: $0.00
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)
277 Weequahic Avenue/Block 3724/Lot 33/South Ward
160-66 Wainwright Street/ Block 3070/ Lot 1/ South Ward
50 South 13th Street//Block 1867/Lot 60/ West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 9,094 X $14.00 = $127,316.00
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 properties located in the South Ward and West Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
277 Weequahic Avenue
3724
33
30X102.8 3,084
160-66 Wainwright Street
3070
1
3,500
50 South 13th Street
1867
60
25.1X100 2,510
Total Square Footage: 9,094
Purchase Price: $127,316.00 ($14.00 ...
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