Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To create a side yard to use as parking for a redeveloper-owned adjacent property.
Entity Name: 66-68 Emmet, LLC
Entity Address: Newark, New Jersey 07105
Sale Amount: $2,342.95
Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $16,200.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twelve (12) 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)
60-60A North 9th Street/ Block 1920/ Lot 39/West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 2,482.55 X $9.00 = $22,342.95.
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 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
60 - 60A North 9th Street
1920
39
20.5X121.1 2,482.55
Total Square Footage: 2,482.55
Purchase Price: $22,342.95 ($9.00 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 a...
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