24-0873

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide for new construction of a two-family home and rehabilitation of a three-family home to sell at market rate to City of Newark employees. Entity Name: Community Collaborations, LLC Entity Address: 187 Livingston Street, Newark, New Jersey 07108 Sale Amount: $47,250.00 Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $119,800.00 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) 780 Bergen Street/Block 2712/Lot 39/South Ward 763 South 20th Street/Block 368/Lot 12/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 5,250 X $9.00 = $47,250.00. 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-i 090524 Deferred 7R2-c 091824 Deferred 7R2-c 100224 Failed 7R2-a 102324 Failed 7R2-a 110724

Resolution Returned to Administration Introduced June 11, 2024

Where it was heard