Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate properties as rental or for-sale housing.
Entity Name: Hamlett Management, LLC
Entity Address: 454 Morris Avenue, Springfield, New Jersey 07081
Sale Amount: $20,000.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $291,700.00
Appraised Amount: N/A
Contract Period: To be commenced within three (3) months and be completed within twelve (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)
527 South 16th Street/Block 334/Lot 16/West Ward
529 South 16th Street/Block 334/Lot 15/West Ward
Additional Information:
Total Square Footage = 5,000. X $4.00 = $20,000.00
Sale to RFQ respondent to build/repair properties included in the MNI (Model Neighborhood Initiative, at prices set forth by Ordinance 6S&Fh April 7, 2004, establishing the minimum sale price of City-owned property.
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WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned properties located in the West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
527 South 16th Street West 334 16 25X100 2,500.
529 South 16th Street West 334 15 25X100 2,500.
Total Square Footage: 5,000
Total Purchase Price: $20,000.00 ($4 per sq. ft.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned properties (the "P...
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