Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate properties as affordable rental or for-sale housing
Entity Name: Community Asset Preservation Corporation
Entity Address: 421 Halsey Street, Newark, New Jersey 07102
Sale Amount: $33,764.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $358,800.00
Appraised Amount: $0.00
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)
17-19 Seymour Avenue/Block 2656/Lot 15/South Ward
13-15 Scheerer Avenue/Block 3639/Lot 77/South Ward
Additional Information:
Total Square Footage = 8,441. X $4.00 = $33,764.00
Sale to community partner providing affording housing opportunities, at prices set forth by Ordinance 6S&FH 040704 establishing the minimum sale price of City-owned property.
body
WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned Properties located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
17-19 Seymour Avenue South 2656 15 31X111 3,441.
13-15 Scheerer Avenue South 3639 77 50X100 5,000.
Total Square Footage: 8,441.
Total Purchase Price: $33,764.00 ($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 ...
Click here for full text