24-1192

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of two specialized resource and wellness centers, inclusive of hydroponics/aquaponics and greenhouse infrastructure Entity Name: Urban Seeds Grow a New Jersey Nonprofit Corporation Entity Address: 25 Manchester Place, Apt 3A, Newark, New Jersey 07104 Sale Amount: $42,570.00 Cost Basis: ( X ) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $96,800.00 Appraised Amount: $N/A 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) 29 Grafton Avenue/Block 771/ Lot 50/ North Ward 42-44 Elizabeth Avenue/ Block 2801/ Lot 1/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 4,730 X $9.00 = $42,570.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.

Resolution Adopted Introduced August 27, 2024

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