Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for the construction of two (2) two-family affordable housing units.
Entity Name: Moss Holdings, Inc.
Entity Address: West Orange, New Jersey 07052
Sale Amount: $51,277.51
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $104,700.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (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)
25 Vanderpool Street/Block 2793/Lot 31/South Ward
91 Ridgewood Avenue/Block 2679/Lot 8/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 5,127.75 X $10.00 = $51,277.51.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
No Action Taken 7R2-f 111323
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 of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
25 Vanderpool Street
2793
31
25X100 2,500
91 Ridgewood Avenue
2679
8
25X105.11 2,627.75
Total Square Footage: 5,127.75
Purchase Price: $51.277.5110.00 s.f); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "Properties") are no longer nee...
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