Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To construct a gated kids park with a playground.
Entity Name: Gomes Dynasty, LLC
Entity Address: Newark, New Jersey 07105
Sale Amount: $23,353.00
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $47,600.00
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)
284-286 Orange Street /Block 2852 /Lot 1/Central Ward
Additional Information:
Total Square Footage x PSF=2,335.3 x 10.00= $23,353.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
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WHEREAS, the Department of Economic and Housing Development seeks to approve the sale and redevelopment of the following City-owned Property located in the Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
284-286 Orange Street
2852|1010|38.6 x 60.5 2,335.3
Total Square Footage: 2,335.3
Purchase Price: $23,353.00 ($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 of Newark is proceeding with the rehabilitation of the area and is c...
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