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Resolution23-1336

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide for a newly constructed vocational training facility with classrooms and new construction of a mixed-use development consisting of (18) affordable housing residential units, (24) onsite parking spaces, and commercial and community space. Entity Name: YouthBuild Newark, Inc. Entity Address: 571 Central Avenue, Newark, New Jersey 07107 Sale Amount: $81,120.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A (X) Other Assessed Amount: $107,300.00 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) 144-146 South 13th Street/Block 1859/Lot 40/West Ward 134 South 11th Street/ Block 1857/Lot 41/West Ward 130-132 South 11th Street/ Block 1857/Lot 42/West Ward 128 South 11th Street/ Block 1857/Lot 44/West Ward Additional Information: Sale Price: Total Square Footage X $6.00 = $81,120.00. 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-g 011024

Introduced Aug 14, 2023· Economic and Housing Development
Adopted
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