Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Redevelop five scattered in-fill vacant lots into five (5) 2-family homes.
Entity Name: ProudLiving Companies, LLC
Entity Address: 26 S. Park Street, Floor 3, Montclair, New Jersey 07042
Sale Amount: $54,797.60
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $88,100.00
Appraised Amount: $N/A
Contract Period: To be commenced within 3 months and be completed within 18 months from the transfer of ownership by the City.
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)
87 Seymour Avenue/Block 3001/Lot 19/South Ward
127 Seymour Avenue/Block 3024/Lot 86/South Ward
128 Seymour Avenue/Block 3019/Lot 17/South Ward
174 Seymour Avenue/Block 3020/Lot 41/South Ward
95 Chadwick Avenue/Block 3000/Lot 7/South Ward
Additional Information:
13,699.40 x $4.00 = $54,797.60
body
WHEREAS, the purpose of this resolution is to approve the sale and redevelopment and/or rehabilitation, as may be applicable, of the following City-owned properties located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
87 Seymour Ave. South 3001 19 29X111.1 3,221.9
127 Seymour Ave. South 3024 86 25X100 2,500.
128 Seymour Ave. South 3019 17 28X110 3,080.
174 Seymour Ave. South 3020 41 25X95.9 2,397.5
95 Chadwick Ave. South 3000 7 25X100 2,500.
Total Square Footage: 13,699.4
Purchase Price: $54,797.60 ($4.00...
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