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File #: 16-0870    Version: 1 Name: Public Real Estate Auction, June 30, 2016
Type: Resolution Status: Adopted
File created: 5/16/2016 In control: Economic and Housing Development
On agenda: 6/15/2016 Final action: 6/15/2016
Title: Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Public Real Estate Auction Purpose: To sell real estate property, not needed for public use, by open public sale at auction to the highest bidder. Date of Auction: June 30, 2016 Location of Auction: Newark Symphony Hall, 1020 Broad Street, Newark, New Jersey 07102 Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other: Contract Basis: (X ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( X ) n/a List of Property: Refer to Resolution, Exhibit A Additional Information: Total of Twenty-Five (25) properties to be considered for auction. Number of properties per Ward: 5 Central Ward, 4 North Ward, 1 South Ward, 15 West Ward
Sponsors: Council of the Whole
Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Public Real Estate Auction
Purpose: To sell real estate property, not needed for public use, by open public sale at auction to the highest bidder.
Date of Auction: June 30, 2016
Location of Auction: Newark Symphony Hall, 1020 Broad Street, Newark, New Jersey 07102
Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other:
Contract Basis: (X ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( X ) n/a
List of Property: Refer to Resolution, Exhibit A
Additional Information:
Total of Twenty-Five (25) properties to be considered for auction.
Number of properties per Ward: 5 Central Ward, 4 North Ward, 1 South Ward, 15 West Ward
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WHEREAS, N.J.S.A. 40A:12-13(a) provides that a municipality may sell any real property, with or without capital improvements, not needed for public use, by open public sale at auction to the highest bidder after advertisement thereof in a newspaper circulated in the municipality in which the lands are situated, by two insertions at least once a week during two consecutive weeks, the last publication to be not earlier than seven days prior to such sale; and

WHEREAS, N.J.S.A. 40A:12-13(a) further provides that the Municipal Council may fix a minimum bid and may reserve its right to reject any and all bids with the reservation of the right to reject all bids where the highest bid is not accepted. Notice of such reservation to reject any and all bids shall be included in the advertisement of the sale and public notice thereof shall be given at the time of the sale; and

WHEREAS, N.J.S.A. 40A:12-13(a) also provides that the Municipal Council may impose restrictions on the use to be made of such real...

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