Title
Dept/ Agency: Water and Sewer Utilities
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Intergovernmental Agreement
Purpose: City of Newark Property Sale required under the Eminent Domain Act
Entity Name: State of New Jersey, Department of Transportation (NJDOT)
Entity Address: 1035 Parkway Avenue, P.O. Box 600, Trenton, New Jersey 08625-0600
Contract Amount: $1,855.00
Funding Source: N/A
Contract Period: N/A
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
Sale of city-owned property located at 2720 NJ 23 Hardyston, New Jersey 07460 (Block 41, Lot 7).
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WHEREAS, The State of New Jersey, through the Department of Transportation (NJDOT or State) is in the process of designing improvements at the Route 23 Hardyston Township Project; and
WHEREAS, the City of Newark owns a portion of the property located at 2720 NJ 23 Hardyston, New Jersey 07460; Block 41, Lot 7, (City Property) which is within the proposed site of the planned construction. The property is also identified as Route: 23, Section: 6, Parcel: 51A and UE51B in the State's Route 23 Hardyston Township Project plans; and
WHEREAS, the NJDOT wants to acquire the City Property in accordance with the Eminent Domain Act; and
WHEREAS, the NJDOT has hired real estate appraiser BBG, Inc., 205 Main Street, Chatham, New Jersey 07928, to determine the Fair Market Value of the property; and
WHEREAS, the appraisal report submitted by BBG, Inc., and obtained by NJDOT has estimated a fair market value of One Thousand Eight Hundred Fifty-Five Dollars and Zero Cents ($1,855.00) for the City property; and
WHEREAS, the state agrees with the estimated compensation of One Thousand Eight Hundred And Fifty-Five Dollars and Zero Cents ($1,855.00) for the...
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