24-1147
Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide new construction of a sixty-eight (68) unit apartment building with 20% of units providing affordable housing at 60% AMI. Entity Name: WMKTST, LLC Entity Address: 300 Wilson Avenue, Newark, New Jersey 07105 Sale Amount: $133,200.00 Cost Basis: (X) $18.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $165,000.00 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) 361 West Market Street/Block 1842/Lot 21/Central Ward 363 West Market Street/Block 1842/Lot 22/Central Ward 367 West Market Street/Block 1842/Lot 24/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 7,400 X $18.00 = $133,200.00. 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
- Held by
- WMKTST, LLC
- Amount
- $165K
- 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
- August 12, 2024
- On agenda
- November 7, 2024
- Passed
- November 7, 2024
Where it was heard
Municipal CouncilWatch what Newark buys
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