24-1527
Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of three (3), 2-family homes to sell at market rate Entity Name: Benfica Development LLC Entity Address: 18-20 Bloomfield Avenue, Belleville, New Jersey 07109 Sale Amount: $73,692.00 Cost Basis: ( X ) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other Assessed Amount: $71,600.00 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) 26 Silver Street/Block 4108/Lot 5/ West Ward 59 Sunset Avenue/ Block 4061/ Lot 116/ West Ward 68 Lindsley Avenue/ Block 4044/ Lot 29/ West Ward Additional Information: Sale Price: Total Square Footage X PSF = 7,369.20 X $10.00 = $73,692.00 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
- Benfica Development LLC
- Amount
- $74K
- 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
- November 12, 2024
- On agenda
- February 5, 2025
- Passed
- February 5, 2025
Where it was heard
Municipal CouncilWatch what Newark buys
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