Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitation of property as an expansion to Redeveloper's existing car wash and service station
Entity Name: Mango Realty, LLC
Entity Address: c/o La Roca, 4420 Bergenline Avenue, Union City, New Jersey 07087
Sale Amount: $75,000.00
Cost Basis: ( ) $ PSF ( X ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $
Appraised Amount: $
Contract Period: Redevelopment completed within twelve (12) months of the transfer of title to the property.
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)
321-325 South 9th Street/Block 1782/Lot 32/West Ward
Additional Information:
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WHEREAS, the City, in connection with its efforts to redevelop the entire City, by Resolution 7RM, adopted on May 4, 2005, directed the Central Planning Board of the City (the "Central Planning Board") to undertake an investigation to determine if the City satisfied the statutory criteria as an "area in need of rehabilitation" in accordance with the provisions of N.J.S.A. 40A:12A-14 of the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. (the "Act"); and
WHEREAS, the Central Planning Board conducted the requested investigation in accordance with the Act, including a public hearing on June 6, 2005, after which hearing the Central Planning Board recommended the designation of the entire City as an "area in need of rehabilitation" to the City Administration and Municipal Council; and
WHEREAS, on June 15, 2005 the Municipal Council adopted Resolution 7RD0 (A.S...
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