Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Private Sale/Redevelopment
Purpose: First Amendment to the Agreement for the Sale of Land and Redevelopment to The Washington Bay Group I, LLC to amend the scope of the Project.
Entity Name: The Washington Bay Group I, LLC
Entity Address: Newark, New Jersey 07108
Sale Amount: $57,200.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $158,400.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) 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)
719 South 11th Street/Block 2631/Lot 5/South Ward
721 South 11th Street/Block 2631/Lot 6/South Ward
725 South 11th Street/Block 2631/Lot 7/South Ward
716-718 South 12th Street/Block 2631/Lot 46/South Ward
723 South 11th Street/Block 2631/Lot 53/South Ward
Additional Information:
Resolution 7R2-a adopted on July 12, 2017 authorized the Private Sale/Redevelopment Agreement.
This Resolution authorizes a First Amendment to the Agreement for the Sale of Land and Redevelopment to amend the scope of the Project.
No Action Taken 7R2-e 111323
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WHEREAS, on July 12, 2017, the Newark Municipal Council adopted Resolution 7R2-a (the "Original Resolution"), which authorized the sale of the following City-owned property (the "Property") to The Washington Bay Group I, LLC, 811 Clinton Avenue, Newark, New Jersey 07108 ("Redeveloper"), pursuant to the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq., located within the South Ward, no longer needed for public use, in accordance with the ...
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