Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for the development of 257 Clinton Avenue into a newly paved parking lot for use by adjacent commercial building owned by the developer.
Entity Name: J&A Group Properties, LLC
Entity Address: 292 Whippany Road, Whippany, New Jersey 07981
Sale Amount: $11,500.00
Cost Basis: (X ) $6.89 (Approx.) PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $20,100.00
Appraised Amount: N/A
Contract Period: Commencing within three (3) months and completed within eighteen (18) months from the transfer of ownership
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)
20 Avon Avenue/2668/29/South Ward
Additional Information:
J&A Group Properties, LLC, is owner of the adjacent commercial property located at 257 Clinton Avenue, Block 2668, Lot 46
body
WHEREAS, the purpose of this resolution is to approve the private sale and redevelopment of the following City-owned property located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
20 Avon Avenue South 2668 29 38.8X43 1668.4
Total Purchase Price: $11,500.00 (approx. $6.89/Sq. Ft.); and
WHEREAS, the City of Newark has determined that the above referenced property is 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...
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