Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate the existing structures and construct two (2) two-family residential homes on the vacant lots to create affordable rental or for-sale housing.
Entity Name: Washington Bay Group 1, LLC
Entity Address: 811 Clinton Avenue, Newark, New Jersey 07108
Sale Amount: $109,400.00
Cost Basis: (X) $6.00 - $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $453,500.00
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
(Address/Block/Lot/Ward)
823 S 18th Street/Block 2643/Lot 15/South Ward
825 S 18th Street/Block 2643/Lot 16/South Ward
918 S 18th Street/Block 3013/Lot 67/South Ward
865 S 18th Street/Block 3014/Lot 13/South Ward
923 S 18th Street/Block 3017/Lot 12/South Ward
Additional Information:
Structures = 7,940 square feet X $10.00 = $79,400.00
Vacant Land = 5,000 square feet X $6.00 = $30,000.00
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 is to approve the sale and redevelopment of the following City-owned Properties located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT
SIZE
SQ. FEET
823 S 18th St. (Vac. Lot)
2643
15
25X100
2,500.
825 S 18th St. (Vac. Lot)
2643
16
25X100
2,500.
918 S 18th St.
3013
67
30X100
3,000.
865 S 18th St.
3014
13
28.6X100
2,860.
923 S 18th St.
3017
12
25X83.2
2,080.
Total Square Footage of Structures: 7,940
Purchas...
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