Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing (X) Amending
Type of Service: Private Sale/Redevelopment
Purpose: First Amendment to the Agreement for the Sale and Redevelopment of Land to Lilac Development Group, LLC, to correct the purpose of the sale from the construction of a two (2) family residential home to the construction of two (2) three (3) story, two (2) family homes for sale.
Entity Name: Lilac Development Group, LLC
Entity Address: 18-20 Bloomfield Avenue, Belleville, New Jersey 07109
Sale Amount: $ 52,500.00
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $24,900.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) 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)
798-800 Bergen Street/Block 2712/Lot 29 and 30/South Ward
Additional Information:
Original Resolution 7R2-f(S) adopted on August 20, 2019.
Original Deed was executed on June 26, 2020.
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WHEREAS, the City of Newark (the "City") is authorized, pursuant to N.J.S.A. 40A:12A-8(g), to sell City-owned properties, no longer needed for public use, in conjunction with an applicable redevelopment plan, at such prices and upon such terms as it deems reasonable, for the purpose of rehabilitating the area; and
WHEREAS, on August 20, 2019, the Municipal Council adopted Resolution 7R2-f(S) (the "Original Resolution"), which authorized the sale of the following City-owned property ("Property") located within the South Ward, no longer needed for public use, in accordance with th...
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