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File #: 16-1116    Version: 1 Name: 795 Sanford Avenue - Micano Evra
Type: Resolution Status: Adopted
File created: 6/30/2016 In control: Economic and Housing Development
On agenda: 7/7/2016 Final action: 7/7/2016
Title: Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate the property to create a neighborhood restaurant Entity Name: Micano Evra Entity Address: 93 Mount Vernon Place, Newark, New Jersey 07106 Sale Amount: $48,000.00 Cost Basis: ( ) $ PSF ( X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $465,700.00 Appraised Amount: $ N/A Contract Period: To be commenced within 3 months, and be completed within 12 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) 795-799 Sandford Avenue/Block 4133/Lot 5/West Ward ...
Related files: 16-0391
Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate the property to create a neighborhood restaurant
Entity Name: Micano Evra
Entity Address: 93 Mount Vernon Place, Newark, New Jersey 07106
Sale Amount: $48,000.00
Cost Basis: ( ) $ PSF ( X ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $465,700.00
Appraised Amount: $ N/A
Contract Period: To be commenced within 3 months, and be completed within 12 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)
795-799 Sandford Avenue/Block 4133/Lot 5/West Ward
Additional Information:
Total Square Footage = 5,826.
Sale Price is approximately $8.24 per sq. ft.
body

WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned property located in the West Ward of the City of Newark:

ADDRESS WARD BLOCK LOT SIZE SQ. FEET

795-799 Sandford Ave. West 4133 5 58.26X100 5,826

Total Purchase Price: $48,000.00 (approximately $8.239 per sf); and

WHEREAS, the City of Newark has determined that the above referenced City-owned property (the "Property") is no longer needed for public use; and

WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City of Newark is proceeding with the rehabilitation of the area and is conveying properties at such prices and upon such terms as it deems reasonable and said conveyance is made in conjunction with the applicable Redevelopment Plan, as amended; an...

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