Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate the properties as affordable rental or for-sale housing
Entity Name: Urban Rehab Projects, LLC
Entity Address: 21-23 Beverly Street, Newark, New Jersey 07108
Sale Amount: $42,220.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $194,200.00
Appraised Amount: $0.00
Contract Period: To be commenced 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)
87 Goodwin Avenue/Block 3620/Lot 12/South Ward
89-91 Goodwin Avenue/Block 3620/Lot 13/South Ward
79-81 Chelsea Avenue/Block 4214/Lot 59/West Ward
Additional Information:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
87 Goodwin Avenue South 3620 12 30.3X125 3,787.5
89-91 Goodwin Avenue South 3620 13 29.1X125 3,637.5
79-81 Chelsea Avenue West 4214 59 31.3X100 3,130.0
Total Square Footage: 10,555
Total Purchase Price: $42,220.00 ($4.00 per sq. ft.); and
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties.
body
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 (the "City"):
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
87 Goodwin Avenue South 3620 ...
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