Title
Dept./ Agency: Economic & Housing Development
Action: (X) Ratifying (X) Authorizing (X ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: An amendment to complete and correct redevelopment site assemblage as a property inadvertently was omitted from the purchase at the November 19, 2015 auction.
Entity Name: Rodrigo Urgilez
Entity Address: Newark, New Jersey 07104
Sale Amount: $71,000.00
Cost Basis: ( ) $ PSF (X ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $180,500.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the 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)
761/2 Garside Street/Block 490/Lot 69/Central Ward
Additional Information:
Resolution 7R3-a(AS) adopted on December 16, 2015 accepted the purchaser's bid for 74-76 Garside Street, Newark, New Jersey 07104, Block 490, Lot 31 in the Central Ward, and also included 761/2 Garside Street, Newark, New Jersey 07104, Block 490, Lot 69, which was inadvertently omitted.
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WHEREAS, on November 19, 2015, the Department of Economic and Housing Development conducted a public auction for the sale of City-owned property known as 74-76 Garside Street, Newark, New Jersey, 07104, Block 490, Lot 31; and
WHEREAS, Rodrigo Urgilez (the "Purchaser"), of 75 Mt. Prospect Avenue, Unit 2, Newark, New Jersey 07104, submitted a bid to purchase the above-mentioned properties for Seventy-One Thousand Dollars and Zero Cents ($71,000.00); and
WHEREAS, the Municipal Council, adopted Resolution 7R3-a(AS) on December 16, 2015, which accepte...
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