MAYOR BARAKA AND CITY OF NEWARK OFFER VALENTINE’S DAY LAND SALE OF CITY-OWNED LOTS IN MODEL NEIGHBORHOODS TO COUPLES

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 in its two Model Neighborhood Initiative areas for $1,000 each to couples seeking to construct homes, in a “Valentine’s Land Sale Day.” The sale will be held on Saturday, February 14, from 9 a.m., to Noon, at City Hall, which is located at 920 Broad Street, on a first-come, first-served basis.

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. They must produce 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 in the United States. The couple must live on 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 program, visit the website at http://www.ci.newark.nj.us/government/mayor/live-newark/