Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Develop the properties into one (1), two (2), or three (3)-family residential units, with or without additional retail use
Entity Name: P.M. Consulting Group, LLC.
Entity Address: 290 Ferry Street, Newark, New Jersey 07105
Sale Amount: $23,387.60
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $33,900.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by the City
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)
183 Jelliff Avenue/Block 2662/Lot 27/South Ward
87 Seymour Avenue/Block 3001/Lot 19/South Ward
Additional Information:
Total Square Footage = 5,846.9 X $4.00 = $23,387.60
Sale at prices set forth by Ordinance 6S&Fh adopted on April 4, 2004, establishing the minimum sale price of City-owned property.
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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 WARD BLOCK LOT SIZE SQ. FEET
183 Jelliff Avenue South 2662 27 25X105 2,625.0
87 Seymour Avenue South 3001 19 29X111.1 3,221.9
Total Square Footage: 5846.9
Total Purchase Price: $23,387.60 ($4.00 per sf); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Properties (the "Properties") are no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City o...
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