25-0208
Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of two (2) three-family homes, of which one (1) will be sold at market rate and the other will be sold at an affordable rate Entity Name: Vinci Development LLC Entity Address: 138 Levgar Street, Piscataway, New Jersey 08854 Sale Amount: $60,000.00 Cost Basis: ( X ) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $88,900.00 Appraised Amount: $0.00 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) 48 Columbia Avenue/ Block 4031/ Lot 28/ West Ward 51 Columbia Avenue/Block 4034/ Lot 67/ West Ward Additional Information: Sale Price: Total Square Footage X PSF = 5,000 X $12.00 = $60,000.00. 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
- Vinci Development LLC
- Amount
- $89K
- 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
- February 7, 2025
- On agenda
- April 16, 2025
- Passed
- April 16, 2025
Where it was heard
Municipal CouncilWatch what Newark buys
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