Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: New Construction and/or rehabilitation of properties to create approximately ten (10), two-family homes for-sale to moderate-income families
Entity Name: United Community Corporation
Entity Address: 332 South 8th Street, Newark, New Jersey 07103
Sale Amount: $56,169.72
Cost Basis: (X) $2.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $546,000.00
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)
38 Blum Street/Block 306/Lot 16/Central Ward
42 Blum Street/Block 306/Lot 18/Central Ward
44 Blum Street/Block 306/Lot 19/Central Ward
491 S 10th Street/Block 308/Lot 3/Central Ward
493 S 10th Street/Block 308/Lot 4/Central Ward
497 S 10th Street/Block 308/Lot 6/Central Ward
503 S 10th Street/Block 308/Lot 9/Central Ward
505-507 S 10th Street/Block 308/Lots 10,11/Central Ward
511 S 10th Street/Block 308/Lot 13/Central Ward
513-515 S 10th Street/Block 308/Lot 14/Central Ward
Additional Information:
Total Sale Price: Square Footage X PSF = 28,084.86 X $2.00 = $56,169.72
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 Properties located in the Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE
SQ. FEET
38 BLUM ST
306
16
25X100
2,500.
42 BLUM ST
...
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