Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop properties into two-family homes.
Entity Name: TAW NJ, LLC
Entity Address: Montclair, New Jersey 07042
Sale Amount: $63,000.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $68,300.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of properties 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)
123 Ridgewood Avenue/Block 2692/Lot 14/South Ward
125 Ridgewood Avenue/Block 2692/Lot 15/South Ward
133-135 Ridgewood Avenue/Block 2692/Lot 19/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 10,500 X $6.00 = $63,000.00.
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 purpose of this Resolution is to approve the sale and redevelopment of the following City-owned properties located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
123 Ridgewood Avenue
125 Ridgewood Avenue
133-135 Ridgewood Avenue
2692
2692
2692
14
15
19
25X105 2,625
25X105 2,625
50X105 5,250
Total Square Footage: 10,500 sq. ft.
Purchase Price: $63,000.00 ($6.00 per s.f.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "P...
Click here for full text