Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate three-family home, one (1) unit will be owner occupied and two (2) units will be rented at market rate. Entity Name: Titilayo Olusegun Entity Address: 294 South 20th Street, FL 1, Newark, New Jersey 07103 Sale Amount: $71,347.84 Cost Basis: (X) $23.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $143,500.00 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) 37 Homestead Park/Block 3044/Lot 8/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 3,102.08 X $23.00 = $71,347.84. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties