Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Developing a commercial property with retail space on the first floor, and office space on the second floor
Entity Name: Westfields of Newark Development Co., LLC.
Entity Address: 500 Avenue P, Newark, NJ 07105
Sale Amount: $31,562.76
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: _________
Assessed Amount: $282,800.00
Appraised Amount: Not provided
Contract Period: 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 ( ) RFP ( ) RFQ
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
Address/Block/Lot/Ward
213-217 Irvine Turner Blvd./2567/31, 32, 33/Central Ward
Additional Information: N/A
Invitation: Economic & Housing Development Director, August 2, 2011