Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Develop two (2)-and three (3)-family homes, affordable or market rate, rental or for-sale homes
Entity Name: Rising Plains, LLC.
Entity Address: 1515 Morris Place, Hillside, New Jersey 07205-1626
Sale Amount: $108,770.40
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $481,300.00
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)
414 S. 16th Street/Block 319/Lot 18/West Ward
414 S. 16th Street (Rear)/Block 319/Lot 52/West Ward
317 14th Avenue/Block 320/Lot 30/West Ward
582 15th Avenue/Block 328/Lot 27/West Ward
465 S. 16th Street/Block 327/Lot 35/West Ward
467 S. 16th Street/Block 327/Lot 36/West Ward
475-477 S. 16th Street/Block 327/Lot 15/West Ward
479-481 S. 16th Street/Block 327/Lot 17/West Ward
470 S. 16th Street/Block 328/Lot 40/West Ward
478 S. 16th Street/Block 328/Lot 36/West Ward
Additional Information:
Total Square Footage = 27,192.6 X $4.00 = $108,770.40
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 redevelopment of the following City-owned Properties located in the West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
414 S 16th Street West 319 18 25X95 2,375.0 ...
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