Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Amending Private Sale/Redevelopment
Purpose: First Amendment to Redevelopment Agreement to extend the Due Diligence Period, address the Environmental Conditions discovered to date, and permit the expeditious redevelopment of the Property, or portions thereof, while the Environmental Conditions are being addressed and effectuate certain business terms and conditions related to the filing of applications for HDSRF Grants from the New Jersey Department of Environmental Protection
Entity Name: The Friends of TEAM Academy Charter School and Ashland School Inc.
Entity Address: 60 Park Place, Suite 802, Newark, New jersey 07102
Sale Amount: Two Hundred Sixty-One Thousand Five Hundred Seventy-Six Dollars and 88/100 Cents ($261,576.88)
Cost Basis: ( ) $ PSF ( ) Negotiated (X) N/A ( ) Other:
Assessed Amount: $ N/A
Appraised Amount: $ N/A
Contract Period: Due Diligence Period runs from November 18, 2013 to March 18, 2016
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
List of Property:
(Address/Block/Lot/Ward)
City of Newark as Block 317, Lots 1, 2, 3, 4, 5, 6, 7, 13, 15, 56, and 58, and Block 2853, Lots 19, 21, 23, 28, 29 and 30
424-430 S. Orange Avenue/317/1, 2, 3, 4/West Ward
418-422 S. Orange Avenue/317/5, 6, 7/West Ward
406-408 S. Orange Avenue/317/13/West Ward
9 Ashland Street/317/15/West Ward
410-414 S. Fourteenth Street/317/56/West Ward
416-422 S. Fourteenth Street/317/58/West Ward
18 Newark Street/2853/19/Central Ward
16 Newark Street/2853/21/Central Ward
14 Newark Street/2853/23/Central Ward
Additional Information:
This resolution authorizes an amendment to the Redevelo...
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