Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To create a side-yard for the adjacent owner occupied home.
Entity Name: Moustafa Abdalla
Entity Address: 613 S 18th Street, Newark, New Jersey 07103
Sale Amount: $6,800.00
Cost Basis: (X ) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $29,300.00
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)
613 S 18th Street/Block 351/Lot 59/West Ward
Additional Information:
Total Square Footage = 1,700 X $4.00 = $6,800.00
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 Property located in the West Ward of the City of Newark:
ADDRESS BLOCK LOT SIZE SQ. FEET
613 S 18th Street 351 59 17X100 1,700
Total Purchase Price: $6,800.00 ($4.00 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 R...
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