Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To create parking for transportation company vehicles.
Entity Name: Peak Hour Transportation Limited Liability Company
Entity Address: 100 Rose Terrace, Newark, New Jersey 07108
Sale Amount: $19,600.00
Cost Basis: (X) $ 7.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $26,600.00
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)
716 S 10th Street/Block 2624/Lot 59/South Ward
Additional Information:
body
WHEREAS, the purpose of this resolution is to approve the sale and redevelopment of the following City-owned Property located in the South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT(S) SIZE SQ. FEET
716 S 10th Street South 2624 59 28X100 2,800
Total Purchase Price: $19,600.00 ($7.00 per sf.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Property (the "Property") is no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City of Newark is proceeding with the rehabilitation of the area and is conveying Properties at such prices and upon such terms as it deems reasonable and said conveyance is made in conjunction with the applicable Redevelopment Plan, as amended; and
WHEREAS, the Municipal Council previously adopted Resolution 7Rdo(AS)...
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