Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Develop the property into one (1), two (2), or three (3)-family residential units, with or without additional retail use
Entity Name: 198 Hunterdon, LLC.
Entity Address: 74 Sherman Avenue, Newark, New Jersey 07114
Sale Amount: $10,000.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $24,300.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) 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)
198 Hunterdon Street/Block 243/Lot 38/Central Ward
Additional Information:
Total Square Footage = 2,500 X $4.00 = $10,000.00
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 4, 2004, establishing the minimum sale price of City-owned property
Deferred 7R2-f (as) 041917
body
WHEREAS, the purpose of this resolution is to approve the sale and redevelopment of the following City-owned Properties located in the Central Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SQ. FEET
198 Hunterdon Street Central 243 38 2,500
Total Square Footage: 2,500.
Total Purchase Price: $10,000.00 ($4.00 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 redevelopment of the area and is conveying property at such prices and upon such terms as it deems reasonable a...
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