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: Mario Nadarajah
Entity Address: 659 Haxtun Avenue, Orange, New Jersey 07050
Sale Amount: $20,916.00
Cost Basis: (X) $8.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $145,400.00
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)
41-43 Stuyvesant Avenue/Block 4114/Lot 45/West Ward
Additional Information:
Total Square Footage = 2,614.5 X $8.00 = $20,916.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties.
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WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned Property located in the West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
41-43 Stuyvesant Avenue West 4114 45 58.1X45 2,614.5
Total Square Footage: 2,614.5
Total Purchase Price: $20,916.00 ($8.00 per sf); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Property (the "Property") 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 rehabilitation of the area and is conveying Properties at such prices and upon such terms as it deems reasonable and said conveyance is made in ...
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