Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop properties into quality affordable housing units.
Entity Name: Uplift Newark, LLC
Entity Address: Newark, New Jersey 07102
Sale Amount: $89,274.10
Cost Basis: (X) $6.00 for Vacant Lot and $10.00 for Structures PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $334,300.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of property ownership from 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)
49 Rose Terrace/Block 2624/Lot 24/South Ward
272 Goldsmith Avenue/Block 3719.04/Lot 18/South Ward
69 Richelieu Terrace/Block 4171/Lot 3/West Ward
Additional Information:
Total Price: Square Footage X PSF = 6,887.41 X $10.00 + 3,400 X $6.00 $89,274.10.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
Failed 7R2-d 031622
Deferred 7R2-a (s) 062122
Deferred 7R2-a 071322
Failed 7R2-a 080322
body
WHEREAS, the Department of Economic and Housing Development seeks to approve the sale and redevelopment of the following City-owned Properties located in the South Ward and West Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
49 Rose Terrace
2624
24
31X111.11 3,444.41
272 Goldsmith Avenue
3719.04
18
34X100 3,400.00
69 Richelieu Terrace
4171
3
31.3X110 3,443.00
Total Square Foot...
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