Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate property for off street parking and side yard.
Entity Name: Taahir Andrews
Entity Address: 453 South 12th Street, Newark, New Jersey 07103
Sale Amount: $19,426.48
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $72,100.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) months following the transfer of property ownership by the City to the Redeveloper
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)
455 South 12th Street/Block 285/Lot/9/Central Ward
457-459 South 12th Street/Block 285/Lot 46/Central Ward
Additional Information:
Sale Price: Total Square Footage x PSF = 4,856.62 X $4.00 = $19,426.48
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 Department of Economic and Housing Development desires to approve the sale and redevelopment of the following City-owned Properties located in the Central Ward of the City of Newark:
ADDRESS BLOCK LOT SIZE SQ. FEET
455 South 12th Street 285 5 25X100 2,500
457-459 South 12th Street 285 46 36.2X65.10 2,356.62
Purchase Price: $19,426.48 ($4.00 per sf.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "Property") is no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City is pr...
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