Resolution24-0291
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: First Amendment to Master Redevelopment Agreement with RPM Development, LLC and Urban League of Essex County Opportunity Corporation for various properties located within the Fairmount Commons Redevelopment Plan Area.
Entity Name: RPM Development, LLC and Urban League of Essex County Opportunity Corporation, jointly the Redevelopers
Entity Address:
RPM Development, LLC, 77 Park Street, Montclair, New Jersey 07042; and Urban League of Essex County Opportunity Corporation, 508 Central Avenue, Newark, New Jersey 07107
Sale Amount: $314,747.92
Cost Basis: ( ) PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $0.00
Appraised Amount: $0.00
Contract Period: Project Schedule attached hereto as Exhibit C
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)
331-335 South 11th Street/Block 1784/Lot 6/West Ward
339-341 South 11th Street/Block 1784/Lot 10/West Ward
343 South 11th Street/Block 1784/Lot 11/West Ward
345 South 11th Street/Block 1784/Lot 13/West Ward
347 South 11th Street/Block 1784/Lot 14/West Ward
349 South 11th Street/Block 1784/Lot 15/West Ward
351 South 11th Street/Block 1784/Lot 16/West Ward
353 South 11th Street/Block 1784/Lot 17/West Ward;
381-395 South Orange Avenue/Block 1784/Lot 35/West Ward
354 South 12th Street/Block 1784/Lot 55/West Ward
350-352 South 12th Street/Block 1784/Lot 57/West Ward
348 South 12th Street/Block 1784/Lot 58/West Ward
346 South 12th Street/Block 1784/Lot 59/West Ward
342-344 South 12th Street/Block 1784/Lot 61/West Ward
340 South 12th Street/Block 1784/Lot 62/West Ward
338 South 12th Street/Block 1784/Lot 63/West Ward
336 South 12th Street/Block 1784/ Lot 64/West Ward
334 South 12th Street/Block 1784/Lot 65/West Ward
332 South 12th Street/Block 1784/Lot 66/West Ward
330 South 12th Street/Block 1784/Lot 67/West Ward
343-345 South 12th Street/Block 1785/Lot 11, Add’l Lot 12/West Ward
347 South 12th Street; Block 1785, Lot 13/West Ward
349 South 12th Street; Block 1785, Lot 14/West Ward
351 South 12th Street; Block 1785, Lot 15/West Ward
353 South 12th Street; Block 1785, Lot 16/West Ward
355 South 12th Street; Block 1785, Lot 17/West Ward
357-359 South 12th Street; Block 1785, Lot 18/West Ward
361 South 12th Street/Block 1785/Lot 20/West Ward
363 South 12th Street/Block 1785/ Lot 21/West Ward
365 South 12th Street/Block 1785/Lot 22/West Ward
367 South 12th Street/Block 1785/Lot 23/West Ward
369 South 12th Street/Block 1785/Lot 24/West Ward
371-373 South 12th Street/Block 1785/Lot 64/West Ward
Additional Information:
Total Price: Square Footage X PSF =
Sites A and A1 (27,589 SF) sold at $4.00 PSF ($110,356.00)
Sites B and C (102,196.46 SF) sold at $2.00 PSF ($204,392.92)
All Sites (129,785 SF) = $314,747.92
Sale at prices set forth in Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
Introduced Feb 28, 2024· Economic and Housing Development