24-1000
Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate property and sell to a Newark 1st time homebuyer at 120% AMI and to construct a new three-family home to provide affordable rental units at 60-40% AMI. Entity Name: 813 State St, LLC Entity Address: Hillside, New Jersey 07205 Sale Amount: $108,060.00 Cost Basis: (X) $15.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $173,500.00 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) 24 Wyndmoor Avenue/Block 3721.02/Lot 18/South Ward 26 Wyndmoor Avenue/Block 3721.02/Lot 16/South Ward 836 South 14th Street/Block 3009/Lot 33/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 7,204 X $15.00 = $108,060.00. 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
- Amount
- $174K
- 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
- July 16, 2024
- On agenda
- September 5, 2024
- Passed
- September 5, 2024
Where it was heard
Municipal CouncilWatch what Newark buys
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