Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate the existing structures to create rental or for-sale housing.
Entity Name: Rose Capital, LLP
Entity Address: 10 Hill Street, 9A, Newark, New Jersey 07102
Sale Amount: $65,675.00
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $297,200.00
Appraised Amount: $0.00
Contract Period: To be commenced 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
(Address/Block/Lot/Ward)
271 Rose Street/Block 2612/Lot 35/Central Ward
275 Rose Street/Block 2612/Lot 37/Central Ward
291 Rose Street/Block 2612/Lot 45/Central Ward
Additional Information:
Total Square Footage = 6,567.5 X $10.00 = $65,675.00
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 to approve the sale and redevelopment of the following City-owned Properties located in the Central Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FT. PRICE PSF TOTAL
271 Rose St. Central 2612 35 25X95.1 2,377.5 $10.00 $23,775.00
275 Rose St. Central 2612 37 25X94 2,350. $10.00 $23,500.00
291 Rose St. Central 2612 45 20X92 1,840. $10.00 $18,400.00
Total Purchase Price: $65,675.00; and
WHEREAS, the City of Newark has determined that the above referenced City-owned Properties (the "Properties") are no longer need...
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