Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Develop properties as three (3) two-family rental or for sale homes
Entity Name: New Age Investment Properties, LLC.
Entity Address: 119 Holland Road, South Orange, New Jersey, 07079
Sale Amount: $30,000.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $93,900.00
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)
377 S 9th Street/Block 282/Lot 5/Central Ward
379 S 9th Street/Block 282/Lot 6/Central Ward
393 S 9th Street/ Block 282/Lot 13/Central Ward
Additional Information:
Total Square Footage = 7,500 X $4.00 = $30,000.00
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-c 011018
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 SIZE SQ. FEET
377 S 9th Street Central 282 5 25X100 2,500
379 S 9th Street Central 282 6 25X100 2,500
393 S 9th Street Central 282 13 25X100 2,500
Total Square Footage: 7,500
Total Purchase Price: $30,000.00 ($4.00 per sf.); and
WHEREAS, the City of Newark has determined that the above referenced City-own...
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