24-1061
Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Purpose: First Amendment to the Agreement for the Sale and Redevelopment of Land to Lincoln Park/Coast Cultural District, Inc., to change the Entity Name, amend the scope of the Project, correct the assessed amount, and correct the sale amount. Entity Name: LPCCD Development, LLC Entity Address: 450 Washington Street, Newark, New Jersey 07102 Sale Amount: $148,579.68 Cost Basis: (X) $6.00PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $417,000.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by the City 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) 11-15 Emmet Street/Block 2804/Lots 15, 16, 17/South Ward 68 Sherman Avenue/Block 2809/Lot 8/South Ward 26 Thomas Street/Block 2821/Lot 6/East Ward 54 Pennsylvania Avenue/Block 2821/Lot 11/East Ward 34-36 Parkhurst Street/Block 2821/Lot 13/East Ward 26 Parkhurst Street/Block 2821/Lot 18/East Ward 28 Parkhurst Street/Block 2821/Lot 17/East Ward 1109 Broad Street/Block 2822/Lot 34/East Ward Additional Information: Resolution 7R2-b adopted on September 8, 2022, authorized the Private Sale/Redevelopment pursuant to the Agreement for the Sale and Redevelopment of Land. This Resolution authorizes a First Amendment to the Agreement for the Sale and Redevelopment of Land to change the Entity Name, amend the scope of the Project, correct the assessed amount, and correct the sale amount.
What this record is
- Held by
- LPCCD Development, LLC
- Amount
- $417K
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- amendment
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Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Economic and Housing Development
- Introduced
- July 25, 2024
- On agenda
- December 10, 2024
- Passed
- December 10, 2024
Where it was heard
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