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 for sale. Entity Name: Washington Bay Group 1, LLC Entity Address: Newark, New Jersey 07108 Sale Amount: $50,400.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $93,200.00 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) 699 South 11th Street/Block 2618/Lot 36/South Ward 701 South 11th Street/Block 2618/Lot 37/South Ward 697 South 11th Street/Block 2618/Lot 73/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 8,400 X $6.00 = $50,400.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-d 030624 Deferred 7R2-b 032024

What this record is

Held by

Washington Bay Group 1, LLC 3 records across this site

Amount

$93K

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

Field

Construction

construction contracts in NJ that end within a year →
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Washington Bay Group 1, LLC also holds

Dept/Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Federal HUD HOME Loan Purpose: A Res… $550K Newark, NJ ends Jan 12, 2046 Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Execute Affordable Housing Agreemen… $550K Newark, NJ

Committee

Economic and Housing Development

Introduced

February 15, 2024

On agenda

March 6, 2024

Passed

April 10, 2024

Where it was heard

Municipal Council Apr 10, 2024 Amend Pass Municipal Council Apr 10, 2024 Adopted as Amended Pass Municipal Council Mar 20, 2024 Defer Pass Municipal Council Mar 6, 2024 Defer Pass

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