`Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for the rehabilitation and renovation of property to sell at market rate.
Entity Name: Alfonza Mechanical Contracting, LLC
Entity Address: Newark, New Jersey 07103
Sale Amount: $95,950.00
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $151,600.00
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)
59-61 Nairn Place/Block 3038/Lot 9/South Ward
388 South 9th Street/Block 281/Lot 6/Central Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 9,595 X $10.00 = $95,950.00.
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 South Ward and Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
59-61 Nairn Place
3038
9
50X146.7 7,335
388 South 9th Street
281
6
22.6X100 2,260
Total Square Footage: 9,595
Purchase Price: $95,950.00 ($10.00 per s.f.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned properties (the "Property") are no longer ne...
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