Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate the property to create rental or for-sale housing
Entity Name: Eon A. Adams
Entity Address: 422 North Walnut Street, East Orange, New Jersey 07017
Sale Amount: $32,760.00
Cost Basis: (X) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $124,800.00
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)
750 S 17th Street/Block 2636/Lot 2/South Ward
Additional Information:
Total Price: Square Footage x PSF = 2,730 X $12.00 = $32,760.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Property
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
BLOCK
LOT
SIZE
SQ. FEET
750 S 17th Street
2636|1010|27.3X100
2,730.
Purchase Price: $32,760.00 ($12.00 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
WH...
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