City of Newark Service Committee Agenda May 2026
City Conveys 15 S. 4th Street to Development Partner
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Description
The City of Newark authorized conveyance of the city-owned parcel at 15 S. 4th Street to Newark Development Partners under the existing Designated Agency Agreement. Newark Development Partners will accept, hold, and dispose of the property, remitting net sale proceeds to the City for future economic development uses.
Contract Details
Vendor
NEWARK DEVELOPMENT PARTNERS
Agency
City of Newark, OH
Contract Type
OTHER
Document Date
May 4, 2026
Renewal Info
Agreement for Acceptance and Disposition of Real Property survives closing; NDP receives a service fee equal to the greater of $1,500 or 3% of gross sale proceeds, with the City responsible for any shortfall if sale proceeds do not cover costs.
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