Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing (X) Amending
Type of Service: Private Sale/Redevelopment
Purpose: First Amendment to Redevelopment Agreement in order to make certain revisions to the Agreement that were requested by the New Jersey Housing and Mortgage Finance Agency (the "NJHMFA") as a condition of financing this Project.
Entity Name: Jelliff Senior Estates Urban Renewal, LLP
Entity Address: 71 Lake Avenue, Colonia, New Jersey 07067
Sale Amount: $0.00
Cost Basis: ( ) $ PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $0.00
Appraised Amount: $0.00
Contract Period: N/A
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
List of Property:
(Address/Block/Lot/Ward)
220-224 Jelliff Avenue/Block 2681/Lot 34/South Ward
226-230 Jelliff Avenue/Block 2681/Lots 31,32/South Ward
Additional Information:
Original Resolution 7R2-i(AS) adopted on February 19, 2020 authorized the Redevelopment Agreement.
body
WHEREAS, on February 19, 2020, the Municipal Council (the "Municipal Council") adopted Resolution 7R2-i(AS) designating Jelliff Senior Estates Urban Renewal, LLP (the "Redeveloper") as the redeveloper of the Property and authorizing the Mayor and/or his designee, the Deputy Mayor/Director of the Department of Economic and Housing Development to enter into and execute an Agreement for the Sale and Redevelopment of Land (the "Redevelopment Agreement") for the construction of fifty (50) senior-restricted residential units (the "Project") on City-owned property located at 220-224 Jelliff Avenue and 226-230 Jelliff Avenue, Newark, New Jersey 07108 (South Ward) and identified on the Official Tax Map of the City as Block 2681, Lots ...
Click here for full text