Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To construct properties into five (5) modern two-family homes.
Entity Name: Shine Development NJ, LLC
Entity Address: 69 Hillcrest Drive, Saddle River, New Jersey 07458
Sale Amount: $69,870.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $169,800.00
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)
497 Bergen Street/Block 2611/Lot 29/Central Ward
499 Bergen Street/Block 2611/Lot 30/Central Ward
211-213 Rose Street/Block 2611/Lot 36/Central Ward
215 Rose Street/Block 2611/Lot 38/Central Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 11,645.0 X $6.00 = $69,870.00.
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 (s) 081721
Deferred 7R2-f (s) 081921
body
WHEREAS, the Department of Economic Housing and Development seeks to approve the sale and redevelopment of the following City-owned properties located in the Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
497 Bergen Street
2611
29
2,120
499 Bergen Street
211-213 Rose Street
215 Rose Street
2611
2611
2611
30
36
38...
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