Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: An Agreement for the redevelopment of land.
Entity Name: IGBO Catholic Community Heritage and Cultural Center, a New Jersey Non-Profit Corporation
Entity Address: Newark, New Jersey 07108
Sale Amount: $103,773.12 minus a demolition credit in an amount not to exceed $43,870.00
Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $789,700.00
Appraised Amount: $0.00
Contract Period: Not Applicable
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)
192-198 16th Avenue/Block 309.01/Lot 24/Central Ward
184-190 16th Avenue/Block 309.01/Lot 30/Central Ward
519 South 11th Street/Block 309.01/Lot 34/Central Ward
521-523 South 11th Street/Block 309.01/Lot 35/Central Ward
527 South 12th Street/Block 310.01/Lot 28/Central Ward
525 South 12th Street/Block 310.01/Lot 29/Central Ward
523 South 12th Street/Block 310.01/Lot 30/Central Ward
200 16th Avenue/Block 310.01/Lot 36/Central Ward
204-214 16th Avenue/Block 310.01/Lot 38/Central Ward
524 South 13th Street/Block 310.01/Lot 41/Central Ward
Additional Information:
The estimated cost to demolish existing structures on property located at 192-198 16th Avenue (Block 309.01, Lot 24) and 184-190 16th Avenue (Block 309.01, Lot 30) is $43,870.00, which shall be credited to Redeveloper.
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WHEREAS, the purpose of this resolution is to approve the sale and redevelopment of the following City-owned property located in the Central Ward of the City of Newark:
Address Block Lot
192-198 16th Avenue 309.01 24
184-190 16th Avenue 309.01 30
519 Sou...
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