26-0095

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 dwellings consisting of one (1) ADA compliant apartment unit and two (2) standard units in each dwelling to be sold at market rate Entity Name: TNV’S & Associates, LLC Entity Address: 35 Goldsmith Avenue, Newark, New Jersey 07112 Sale Amount: $111,875.00 Cost Basis: (X) $25.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $22,900.00 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) 369-371 Peshine Avenue/Block 3580/Lot 15,16/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 4,475 X $25.00 = $111,875.00. 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-e 061726 Deferred 7R2-b 071526

Resolution Adopted Introduced January 23, 2026

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