Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Undertaking the construction of two (2) two-family homes for sale as workforce housing and one (1) four unit apartment building with rents at 30-50% AMI to low and moderate-income families earning less than 60% AMI.
Entity Name: The Ashley Consulting Group, LLC
Entity Address: 211 Warren Street, Newark, NJ 07103
Sale Amount: $89,376.00
Cost Basis: (X) 11,172 PSF x $8.00 = $89,376.00 ( ) Negotiated ( ) N/A ( ) Other: ___
Assessed Amount: $253,300.00
Appraised Amount: Information not provided
Contract Period: 18 months from transfer of ownership by the city
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) Non-Fair & Open (X) RFP ( ) RFQ (X) Private Sale
( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
Address/Block/Lot/Size/Square Feet/Ward
10-12 Speedway Avenue/4004/8/28.4 x 100/2840/West Ward
22-24 Speedway Avenue/4004/14/31 x 100/3100/West Ward
9 Gladstone Avenue/4004/43/30 x 87.2/2616/West Ward
11 Gladstone Avenue/4004/42/30 x 87.2/2616/West Ward
Additional Information: N/A
Invitation: Economic & Housing Development Director, October 20, 2009
Deferred 7R3-f 102109