Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To construct four (4) two-family residential homes.
Entity Name: E. Gill Development, LLC
Entity Address: 626 Central Avenue, Suite 2A, East Orange, New Jersey 07018
Sale Amount: $74,340.00
Cost Basis: ( X ) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $
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)
67 S 12th Street/Block 1867/Lot 28/West Ward
63 S 12th Street/Block 1867/Lot 25/West Ward
62 S 12th Street/Block 1868/Lot 47/West Ward
131 Hedden Terrace/Block 3028/Lot 13/South Ward
Additional Information:
Total Purchase Price: Square Footage x PSF = 12,390 X $6.00 = $74,340.00
Sale at prices set forth by Ordinance 6S&Fh, adopted 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 Properties located in the West Ward and South Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
67 S 12th Street West 1867 28 25X100 2,500
63 S 12th Street West 1867 25 37.6X100 3,760
62 S 12th Street West 1868 47 25X100 2,500
131 Hedden Terr South 3028 13 33X110 3,630
Total Square Footage: 12,390
Total Purchase Price: $74,340.00 ($6.00 per sf.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Properties (the "Properties") are no longer needed fo...
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