Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To build ten (10) new two-family homes for first time homebuyers and affordable apartments for working families.
Entity Name: Urban Day Development Corp.
Entity Address: 235 Watchung Avenue, West Orange, New Jersey 07052
Sale Amount: $187,560.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $370,100.00
Appraised Amount: $ 0.00
Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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)
37 S 7th Street/Block 1829/Lot 10/West Ward
39 S 7th Street/Block 1829/Lot 11/West Ward
53 S 7th Street/Block 1829/Lot 18/West Ward
105 S 9th Street/Block 1827/Lot 14/West Ward
144 S 9th Street/Block 1828/Lot 36/West Ward
103 S 8th Street/Block 1828/Lot 28/West Ward
107 S 8th Street/Block 1828/Lot 30/West Ward
99-101 S 8th Street/Block 1828/Lot 26/West Ward
39 S 9th Street/Block 1856/Lot 9/West Ward
75-77 Norwood Avenue/Block 4066/Lot 55/West Ward
Additional Information:
Sale Price: Total Square Footage x PSF = 31,260 X $6.00 = $187,560.00
Sale at prices set forth by Ordinance 6S&Fh, adopted 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 West Ward of the City of Newark:
ADDRESS
BLOCK
LOT
SIZE
SQ. FEET
37 S 7th Street
1829
10
25X100
2,500
39 S 7th Street
1829
1...
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