Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of three (3) two-family homes, to be rented to Section 8 Housing Choice Voucher participants. Entity Name: Brick City Preservation LLC Entity Address: 79-81 Farley Avenue, Newark, New Jersey 07108 Sale Amount: $106,730.00 Cost Basis: (X) $13.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $27,700.00 Appraised Amount: N/A 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) 48-52 Speedway Avenue/Block 4005/Lot(s) 1,2,3/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 8,210 X $13.00 = $106,730.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.