Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Assignment of Private Sale/Redevelopment
Purpose: Consent to transfer, execution and delivery of a Purchase and Sale Agreement between RBH-TRB West I Mezz Urban Renewal Entity, L.L.C. (formerly known as RBH-TRB 229 Halsey, LLC) and Teachers Village Project A QALICB Urban Renewal, L.L.C.
Entity Name: Transferor: RBH-TRB 229 Halsey, LLC, now known as RBH-TRB West 1 Mezz Urban Renewal Entity, LLC
Transferee: Teachers Village Project A QALICB Urban Renewal, L.L.C.
Entity Address: 16 west 36th Street, Suite 801, New York, New York 10018
Sale Amount: $n/a
Cost Basis: ( ) $ PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: n/a
Appraised Amount: n/a
Contract Period: n/a
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
Additional Information:
body
WHEREAS, on May 16, 2006, the Municipal Council of the City of Newark (“City”) adopted Resolution 7RN (S), authorizing the execution and delivery of a Redevelopment Agreement (the “Original Redevelopment Agreement”) with WKA Development, Inc. (the “Original Redeveloper”); and
WHEREAS, the Original Redevelopment Agreement would provide for the sale of certain City-owned properties, specifically Block 95, Lots 1, 2, 3, 4, 8, 10, 16 and 31 (being 265-67 Halsey Street, 324-326 Washington Street, and 40-44, 48, 50-58, 60, 62 and 64-66 Williams Street) (collectively, the “City Properties”), to the Original Redeveloper, pursuant to N.J.S.A. 40A:12A-8(g), and the construction thereon by the Original Redeveloper of a redevelopment project comprising a six...
Click here for full text