Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate properties into three (3) multi-family homes.
Entity Name: Black Congress Enterprises, LLC
Entity Address: Newark, New Jersey 07112
Sale Amount: $85,768.40
Cost Basis: (X) $10.00 and $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $209,400.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) 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)
485 Springfield Avenue/Block 2608/Lot 11/Central Ward
54 Parkhurst Street/Block 2822/Lot 28/East Ward
53 Park View Terrace/Block 3697Lot 1/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 6,026.84 X $10.00 + $12.00 X 2,125.00 = $85,768.40.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
Deferred 7R2-d (s) 062122
Deferred 7R2-b 071322
Deferred 7R2-e 080322
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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, East Ward and South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
485 Springfield Avenue
54 Parkhurst Street
53 Park View Terrace
2608
2822
3697
11
28
1
25X85 2,125.00
25X101.4 2,535.00
35.2X99.2 3,491.84
Total Square Footage: 8,151.84 sq....
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