Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Terminating Designation of Redeveloper and Authorizing New Redeveloper including an Additional Property
Purpose: Construction of Charter High School
Entity Name: The Friends of Team Academy Charter School, Inc.
Entity Address: 85 Custer Avenue, Newark, NJ 07112
Sale Amount: $11,376.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: _________
Assessed Amount: $26,600.00
Appraised Amount: Information not provided
Contract Period: To be completed within twenty-four (24) months of Closing
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)
19 Newark Street/Block 2852/Lot 19/Central Ward
Additional Information:
Rescinding 7RB 122105 - Terminating Designation of Redeveloper, Newark-Norfolk, LLC as they were unable to develope the new construction of Fourteen (14) three (3) family homes