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Live Newark: Valentine’s Day Land Sale

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Download Official Rules for the Sale

A special land sale that Economic and Housing Development organized for St. Valentine’s Day – Saturday, 14 February 2015 at Newark City Hall (920 Broad Street). In the spirit of St. Valentine’s Day, we are doing a sale of city lots exclusively to COUPLES.

Transforming non-tax producing city owned lots to occupied, tax producing properties with new homes built on them. 100 lots at $1,000 a lot. This sale was NOT for developers or investors. The sale was exclusively for couples who are looking to live in Newark.

The rules were as follows:

  • You must be a couple (straight or LGBT)
  • Only one lot per couple
  • Lots will be awarded on a “first come, first served” basis
  • Lots will be sold for $1,000 each
  • All final sales are subject to Municipal Council approval
  • Buyers will be required to make a $500 down payment
  • Buyers will be required to pay an additional $500 at closing
  • Buyer is responsible for all closing costs
  • Buyer must submit a City Planning Board approved site plan to close on the property
  • Buyer must 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
  • Construction must be completed within 18 months of closing
  • Buyer must reside in the property for 5 years after issuance of C.O.
  • Anyone from anywhere is eligible to participate except employees of the EHD Property Management Division

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Live Newark: Model Neighborhoods Initiative Incentive Program

Model Neighborhood Initiative Incentive Program

The “Live Newark” Program has been launched to encourage municipal employees and public school teachers to purchase homes — in Newark. The program will provide home purchasers with forgivable loans to cover closing costs and rehabilitation expenses for homes purchased in one of the City’s two struggling Model Neighborhood Initiative areas.

Model Neighborhoods

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