Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide for new construction of three (3) two-family homes to sell at market rate.
Entity Name: S Skipwith Investments, LLC
Entity Address: Newark, New Jersey 07112
Sale Amount: $55,272.00
Cost Basis: (X) $7.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $65,100.00
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)
146 Chadwick Avenue/Block 2687/Lot 49/South Ward
797 Bergen Street/Block 2711/Lot 13/South Ward
799 Bergen Street/Block 2711/Lot 14/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 7,896 X $7.00 = $55,272.00.
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 of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
146 Chadwick Avenue
2687
49
25.2X105 2,646
797 Bergen Street
2711
13
25X105 2,625
799 Bergen Street
2711
14
25X105 2,625
Total Square Footage: 7,896
Purchase Price: $55,272.00 ($7.00 per s.f.); and
WHEREAS, the City of Newark (the "City") has determined that the above r...
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