Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop properties into a forty-eight (48) unit modern residential rental building and eight (8) units of affordable home ownership condominiums.
Entity Name: ConleyMoor, LLC
Entity Address: Belleville, New Jersey 07109
Sale Amount: $118,188.72
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $307,500.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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)
9-11 Peat Street/Block 288/Lot 45.02/Central Ward
67 Kent Street/Block 2616/Lot 16/South Ward
10 Brenner Street/Block 2616/Lot 31/South Ward
14 Brenner Street/Block 2616/Lot 33/South Ward
16-18 Brenner Street/Block 2616/Lot 34 and 35/South Ward
12 Brenner Street /Block 2616/Lot 41/South Ward
Additional Information:
Total Price: Square Footage X PSF = 19,698.12 X $6.00 = $118,188.72.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
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 Central Ward and South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
9-11 Peat Street
288
45.02
4,499.00
67 Kent Street
2616
16
23.2X101.6 ...
Click here for full text