Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate property as rental or for-sale housing
Entity Name: Community Development Group, LLC.
Entity Address: 11-15 Clinton Street, 9B, Newark, New Jersey 07102
Sale Amount: $37,348.80
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $411,000.00
Appraised Amount: $0.00
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)
169 S 9th Street/Block 1813/Lot 16/West Ward
14 Alexander Street/Block 4057/Lot 11/West Ward
24-26 Underwood Street/Block 4078/Lot 46/West Ward
Additional Information:
Total Square Footage = 9,337.2 X $4.00 = $37,348.80
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned property.
Deferred 7R3-g (s) 082316
Deferred 7R3-a 090816
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
169 S. 9th Street West 1813 16 25X100 2,500.
14 Alexander Street West 4057 11 28X134.9 3,777.2
24-26 Underwood Street West 4078 46 34X90 3,060.
Total Square Footage: 9,337.2
Total Purchase Price: $37,348.80 ($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 pu...
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