Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Grant Agreement
Purpose: To grant financial assistance for a project consisting of four (4) two family houses and two (2) three family houses for a total of six (6) homes to be built in the West Ward Model Neighborhood area to be known as the "West Ward New Homes Initiative Project"
Entity Name: Jarid Jamar Construction Company, Inc.
Entity Address: 9 Weber Road, West Orange, New Jersey 07052
Grant Amount: $500,000.00
Funding Source: New Jersey Redevelopment Authority, City of Newark, Private Lendor
Total Project Cost: $1,195,000.00
City Contribution: $500,000.00
Other Funding Source/Amount: N/A/$
Contract Period: July 1, 2016 through June 30, 2017
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X) Grant ( ) Sub-recipient ( ) n/a
List of Property: (if applicable)
(Address/Block/Lot/Ward)
425 South 18th Street (Block 322, Lot 17),
479 South 17th Street Rear (Block 326, Lot 15),
479 South 17th Street (Block 326, Lot 51),
467-469 South 15th Street (Block 328, Lot 19),
455-457 South 14th Street (Block 329, Lots 46 and 47),
456 South 14th Street (Block 330, Lot 43)
454 South 14th Street (Block 330, Lot 44) (West Ward)
Additional Information:
body
WHEREAS, pursuant to the terms and conditions of that certain Agreement for the Sale of Land and Redevelopment, dated as of September 24, 2015, by and between the City and the Redeveloper, Jarid Jamar Construction Company Inc., a New Jersey corporation, 9 Weber Road, West Orange, New Jersey 07052 (the "Entity"), desires to acquire and develop the real property located at 425 South 18th Street (Block 322, Lot 17), 479 South 17th Street Rear (Block 326, Lot 15), 479 Sou...
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