Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate as Rental or For-Sale housing
Entity Name: Andre Frye
Entity Address: 124 Oakland Terrace, Newark, New Jersey 07106
Sale Amount: $20,480.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $128,400.00
Appraised Amount: $0.00
Contract Period: To commence 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)
19 Earl Street/Block 2785/Lot 32/South Ward
104 Palm Street/Block 4199/Lot 128/West Ward
Additional Information:
Total Square Footage = 5,120 X $4.00 = $20,480.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
Pursuant to the revised assessment for 2018 this property is assessed at $128,400.00.
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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 South Ward and West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
19 Earl Street South 2785 32 25.1X100 2,510
104 Palm Street West 4199 128 26.1X100 2,610
Total Square Footage: 5,120
Total Purchase Price: $20,480.00 ($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 Ne...
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