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File #: 21-1576    Version: 1 Name: Frank Achebe
Type: Resolution Status: Adopted
File created: 10/20/2021 In control: Economic and Housing Development
On agenda: 11/2/2022 Final action: 11/22/2022
Title: Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop the property into a multi-family home. Entity Name: Frank Achebe Entity Address: Irvington, New Jersey 07111 Sale Amount: $11,550.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $30,200.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) 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) 104 1/2 9th Avenue/Block 1861/Lot 5/West Ward Additional Information: Total Price: Square...
Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To redevelop the property into a multi-family home.
Entity Name: Frank Achebe
Entity Address: Irvington, New Jersey 07111
Sale Amount: $11,550.00
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $30,200.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) 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)
104 1/2 9th Avenue/Block 1861/Lot 5/West Ward
Additional Information:
Total Price: Square Footage X PSF = 1,155 X $10.00 = $11,550.00.
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-a 110222
Deferred 7R2-a 111422
body

WHEREAS, the purpose of this Resolution is to approve the sale and redevelopment of the following City-owned property located in the West Ward of the City of Newark:

ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
104 1/2 9th Avenue
1861
5
15.4X75 1,155

Purchase Price: $11,550.00 ($10.00 per s.f.); 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 is proceeding with the rehabilitation of the area and is conveying property at such prices and upon such terms as it deems reasonable and said c...

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