25-0159

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New Construction of a 3-family home to rent at market rate. Entity Name: Roma Development LLC Entity Address: 102 Pancake Drive, Wayne, New Jersey, 07470 Sale Amount: $33,600.00 Cost Basis: (X) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $20,500.00 Appraised Amount: N/A Contract Period: To commence within three (3) months and be completed within eighteen (18) 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) 152-154 Ridge Street/ Block 508/ Lot 10/ North Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,800 X $12.00 = $33,600.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-c 052125

Resolution Returned to Administration Introduced January 30, 2025

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