February 12, 2015
Newark City Gives a Valentine's Gift to Couples
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Mayor Ras J. Baraka, the Newark Municipal Council, and Deputy Mayor for Economic Development Baye Adofo-Wilson announced today that the City of Newark will sell municipally-owned vacant lots city-wide for $1,000 each to couples seeking to construct homes on them, in a "Valentine's Land Sale Day."
The sale will take place at Newark City Hall on Saturday, February 14 from 9 a.m. through 12 p.m.
WHAT: Newark Valentine's Day Land Sale, in which municipally-owned vacant lots will be sold to couples-straight or LGBT-for $1,000 each as part of the City's "Live Newark" program. More information: http://www.ci.newark.nj.us/government/mayor/live-newark/
WHERE:
Newark City Hall
920 Broad Street
Newark, NJ 07102
WHEN: Saturday, February 14, 2015 from 9 AM to 12 PM ET
As part of the City's "Live Newark" program, the lots will be sold for $1,000 each, with buyers required to make a $500 down payment and pay the additional $500 at closing. They are responsible for all closing costs, and must submit a City Planning Board approved site plan to close on the property, have a commitment letter from a financial institution and/or proof of cash to cover the cost of the infill new construction to close on the property, and complete that construction within 18 months of closing.
"We are observing Valentine's Day with creativity and a commitment to Newark's couples, by offering them opportunities to achieve their American dream of home ownership," Mayor Baraka said. "At the same time, we are turning vacant lots into homes that strengthen our communities, replacing blight with development. Out-of-the-box steps like these are how we will transform Newark into a City we can all believe in. I congratulate our Department of Economic and Housing Development on this program and extend my best wishes to all the couples who will make their new homes in our city."
The lots are available for purchase for any couple, straight or LGBT, from anywhere. The couple must live in the property for five years after issuance of the Certificate of Occupancy. All sales must be approved by the Municipal Council.
For more information on the City of Newark, please visit: www.ci.newark.nj.us
