Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide a new construction of (2) two-family homes with the intent to sell (1) home at the current market rate and the other home at 50% of the Area Median Income (AMI). Entity Name: Blackmon Homes, LLC Entity Address: Plainfield, New Jersey 07060 Sale Amount: $79,036.20 Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $50,600.00 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) 265-267 Seymour Avenue/Block 3598/Lot 5/South Ward 269 Seymour Avenue/Block 3598/Lot 3/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 8,781.80 X $9.00 = $79,036.20. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.

What this record is

Held by

Blackmon Homes, LLC

Amount

$79K

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 →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

Read automatically from the title of the official record. The source document below is authoritative.

Committee

Economic and Housing Development

Introduced

March 26, 2024

On agenda

July 10, 2024

Passed

July 10, 2024

Where it was heard

Municipal Council Jul 10, 2024 Adopt Pass

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