Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To acquire city-owned property to expand existing trade contract business operations.
Entity Name: Roman E&G Corp.
Entity Address: 14 Ogden Street, Newark, New Jersey 07104
Sale Amount: $110,000.00
Cost Basis: () PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $110,000.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) months following transfer of 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)
44-58 Ogden Street/Block 570/Lot 38/North Ward
Additional Information:
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 Property located in the North Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
44-58 Ogden Street
570
38
212.2X45 9,549
Purchase Price: $110,000.00 (equivalent to assessed value); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned property (the "Property") is no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City of Newark is proceeding with the rehabilitation of the area and is conveying properties at such prices and upon such terms as it deems reasonable and said conveyance is made in conjunction with the ap...
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