Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Redevelopment/Construction of a retail rental space on the ground floor and ten (10) residential apartments on the second and third flloors with 20% (2 units) rented to moderate income families earning 80% AMI
Entity Name: SRW Properties LLC
Entity Address: 89 Pilch Street, Bloomfield, NJ 07003
Sale Amount: $108,000.00
Cost Basis: (X) $17.79 PSF ( ) Negotiated ( ) N/A ( ) Other: _________
Assessed Amount: $108,000.00
Appraised Amount: Information not provided
Contract Period: Must be commenced within 3 months and be completed within 18 months from the transfer of ownership
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions (X) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
396-400 Broad Street/29/2/Central
Additional Information: February 2009 Rolling Sale/City-Owned Vacant Land and Structures