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: L. Velez General Contractors, LLC
Entity Address: 598 Clifton Avenue, Newark, New Jersey 07104
Sale Amount: $20,000.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $296,800.00
Appraised Amount: N/A
Contract Period: To commence 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)
60 11th Avenue/Block 1811/Lot 6/West Ward
46 N 13th Street/Block 1923/Lot 24/West Ward
Sale price as set forth by Ordinance 6S&Fh adopted on April 7, 2004 establishing the minimum sale price of City-owned property.
Additional Information:
body
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
60 11th Avenue West 1811 6 25X100 2,500.
46 N. 13th Street West 1923 24 25X100 2,500.
Total Square Footage: 5,000
Total Purchase Price: $20,000.00 ($4.00 per sf); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Properties (the "Properties") are 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 a...
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