Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To newly construct a parking lot for the adjacent owned school. Entity Name: The Friends of Team Charter Schools, Inc. Entity Address: 60 Park Place, Suite 802, Newark, New Jersey 07102 Sale Amount: $24,180.00 Cost Basis: ( X ) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $39,100.00 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) 98 1st Street/Block 1879/ Lot 5/ Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,015 X $12.00 = $24,180.00. 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

Friends of Team Charter Schools, Inc

Amount

$39K

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

June 27, 2025

On agenda

September 17, 2025

Passed

September 17, 2025

Where it was heard

Municipal Council Sep 17, 2025 Adopt Pass

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