Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide new construction of eight (8) three-family homes to provide five (5) affordable residential units and nineteen (19) market rate rental units.
Entity Name: DCF Developers, LLC
Entity Address: 162 South 8th Street, 3rd Floor, Brooklyn, New York 11211
Sale Amount: $131,040.00
Cost Basis: (X) $13.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $158,600.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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)
474 Avon Avenue/Block 2643/Lot 8/South Ward
476 Avon Avenue/Block 2643/Lot 7/South Ward
233 South 10th Street/Block 1814/Lot 29/West Ward
235 South 10th Street/Block 1814/Lot 30/West Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 10,080 X $13.00 = $131,040.00.
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 and South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
474 Avon Avenue
2643
8
25X100.10 2502.5
476 Avon Avenue
2643
7
25X100.7 2517.5
233 South 10th Street
1814
29
30X92 2,7...
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