Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Creating a side-yard for the contiguous property owner.
Entity Name: Juan Cosme, Jr.
Entity Address: 394 Lincoln Avenue, Newark, NJ 07104
Sale Amount: $47,500.00
Cost Basis: (X) $15.36 PSF ( ) Negotiated ( ) N/A ( ) Other: _________
Assessed Amount: $45,400.00
Appraised Amount: Information not provided
Contract Period: Commenced within 3 months and be completed within 12 months from the transfer of ownership. Additionally, within ninety (90) days from closing the Redeveloper shall seek approval from municipal authorities to merge the two (2) properties 394-396 Lincoln Avenue and make good faith efforts to obtain approvals and effectuate a merger of lots within twelve (12) months from closing.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions (X) RFP ( ) RFQ
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
Address/Block/Lot/Square Feet/Ward
396 Lincoln Avenue/819/5/3092.5/North Ward
Additional Information:
January 2008 Rolling Sale/City-Owned Vacant Land and Structures