Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop the properties into three (3) three-family homes.
Entity Name: Adams Construction and D.C., LLC
Entity Address: 121 Brighton Avenue, East Orange, New Jersey 07017
Sale Amount: $41,610.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $89,100.00
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)
463 South 18th Street/Block 322/Lot 66/West Ward
631 South 20th Street/Block 353/Lot 11/West Ward
635 South 20th Street/Block 353/Lot 25/West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 6,935 X $6.00 = $41,610.00.
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 Department of Economic and Housing Development seeks to approve the sale and redevelopment of the following City-owned Properties located in the West Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
463 South 18th Street 631 South 20th Street
635 South 20th Street
322
353
353
66
11
25
25X75 1,875
25X100 2,500
25.6X100 2,560
Purchase Price: $41,610.00 ($6.00 per s.f.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owne...
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