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 Enterprise, 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:
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 2,500
398 S 9th Street Central 281 1 25X100 2,500
Total Square Footage: 15,000
Total Purchase Price: $60,000.00 ($4.00 per sf.); 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 r...
Click here for full text