Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Development of office headquarters and aquaponic and hydroponic farm and market
Entity Name: M.E.R.I.T. Inc.
Entity Address: 211 Warren Street, Suite 218, Newark, New Jersey 07103
Sale Amount: $16,121.00
Cost Basis: ( X ) $4.097 Approx. PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $122,200.00
Appraised Amount: N/A
Contract Period: Commenced within (3) months and completed within (18) months from the transfer of ownership
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( X ) RFP ( ) RFQ
( X ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
72-76 Boyden Street/2858/45/Central Ward
178 Orange Street/2858/1/Central Ward
Additional Information:
N/A
body
WHEREAS, the purpose of this Resolution is to approve the private sale and redevelopment of the following City-owned properties located in the Central Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
72-76 Central 2858 45 80 X 29.15 2,332.00
Boyden
Street
178 Central 2858 1 23.92 X 67 1,602.64
Orange
Street
; and
WHEREAS, the City of Newark has determined that the above referenced properties are City-owned and not needed for municipal purposes; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City of Newark is proceeding with the redevelopment of these areas and is conveying properties at such prices and upon such terms as it deems reasonable and said conveyance is made in conjunction with a Redevelopment Plan; and
WHEREAS, the Municipal Council previously adopted Resolution 7RDO (A.S.) on June 15, 2005, designating the entire City as an “a...
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