Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Construction of a professional medical office complex with parking.
Entity Name: Dunbar Center, Inc.
Entity Address: One Gateway, Suite 2600, Newark, New Jersey 07102
Sale Amount: $141,078.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $442,900.00
Appraised Amount: $0.00
Contract Period: To be commenced 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)
775 Bergen Street/Block 2711/Lot 1/South Ward
779-781 Bergen Street/Block 2711/Lot(s) 3,4/South Ward
783 Bergen Street/Block 2711/Lot 6/South Ward
785 Bergen Street/Block 2711/Lot 7/South Ward
787-791 Bergen Street/Block 2711/Lot 8/South Ward
793 Bergen Street/Block 2711/Lot 11/South Ward
178 W Runyon Street/Block 2711/Lot 53/South Ward
174-176 W Runyon Street/Block 2711/Lot 54/South Ward
172 W Runyon Street/Block 2711/Lot 56/South Ward
Additional Information:
Total Square Footage = 35,269.5 X $4.00 = $141,078.00
Sale at prices set forth by Ordinance 6S&Fh adopted 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 redevelopment of the following City-owned Properties located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
775 Bergen Street South 2711 1 25X105 2,625.0
779-781 Bergen Street South 2711 3,4 50X10...
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