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: SSW, LLC.
Entity Address: 77 Orange Road, Montclair, New Jersey 07042
Sale Amount: $30,400.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $381,600.00
Appraised Amount: $0.00
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)
786 S 17th Street/Block 2636/Lot 36/South Ward
33 Bragaw Avenue/Block 3047/Lot 14/South Ward
147 Hobson Street/Block 3064/Lot 36/South Ward
Additional Information:
Total Square Footage = 7,600 X $4.00 = $30,400.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties.
Deferred 7R2-b 050317
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
786 S 17th Street South 2636 36 25X100 2,500.
33 Bragaw Avenue South 3047 14 25X100 2,500.
147 Hobson Street South 3064 36 25X104 2,600.
Total Square Footage: 7,600.
Total Purchase Price: $30,400.00 ($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 i...
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