Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Sale to RFQ Respondent to rehabilitate properties as rental or for-sale housing
Entity Name: Open Eye Innovators, LLC.
Entity Address: 60 Beverly Street, Newark, New Jersey 07108
Sale Amount: $18,528.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $220,200.00
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)
246 South 20th Street/Block 1817/Lot 56/West Ward
3621/2 New Street/Block 429/Lot 20/Central Ward
Additional Information:
Total Square Footage = 4,632. X $4.00 = $18,528.00
Sale to RFQ respondent at prices set forth by Ordinance 6S&Fh adopted on April 4, 2004 establishing the minimum sale price of City-owned property.
Deferred 7R2-c (s) 052317
body
WHEREAS, the purpose of this resolution is to approve the sale and redevelopment of the following City-owned Properties located in the West and Central Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
246 South 20th Street West 1817 56 25X100 2,500.
3621/2 New Street Central 429 20 20X106.6 2,132.
Total Square Footage: 4,632.
Total Purchase Price: $18,528.00 ($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 redevelo...
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