File #: 17-1606    Version: 1 Name: Metamorphosis Development Group, LLC
Type: Resolution Status: Returned to Administration
File created: 8/31/2017 In control: Economic and Housing Development
On agenda: 1/10/2018 Final action: 1/24/2018
Title: Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop six (6) three-unit townhomes Entity Name: Metamorphosis Development Group, LLC. Entity Address: 40 Clinton Street, Suite 300, Newark, New Jersey 07102 Sale Amount: $60,000.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $187,700.00 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) 361-363 S 8th Street/Block 281/Lot(s) 34,35/Central Ward 365 S 8th Street/Block 28...
Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Develop six (6) three-unit townhomes
Entity Name: Metamorphosis Development Group, LLC.
Entity Address: 40 Clinton Street, Suite 300, Newark, New Jersey 07102
Sale Amount: $60,000.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $187,700.00
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)
361-363 S 8th Street/Block 281/Lot(s) 34,35/Central Ward
365 S 8th Street/Block 281/Lot 36/Central Ward
394 S 9th Street/ Block 281/Lot 3/Central Ward
396 S 9th Street/Block 281/Lot 2/Central Ward
398 S 9th Street/Block 281/Lot 1/Central Ward
Additional Information:
Total Square Footage = 15,000 X $4.00 = $60,000.00
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-d 011018

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WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned Properties located in the Central Ward of the City of Newark:

ADDRESS WARD BLOCK LOT SIZE SQ. FEET
361-363 S 8th Street Central 281 34,35 50X100 5,000
365 S 8th Street Central 281 36 25X100 2,500
394 S 9th Street Central 281 3 25X100 2,500
396 S 9th Street Central 281 2 25X100 ...

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