Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To build three (3) single-family homes, to be sold at an affordable rate to income qualified households earning 100% AMI. Entity Name: JUMPSTART NEWARK A NJ NONPROFIT CORPORATION Entity Address: 200 Renner Avenue, Suite 2, Newark, New Jersey 07112 Sale Amount: $67,050.00 Cost Basis: (X) $18.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $43,600.00 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) 32 South 8th Street/Block 1854/Lot 38/West Ward 28 South 8th Street/Block 1854/Lot 40/West Ward 24 South 8th Street/Block 1854/Lot 42/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 3,725 X $18.00 = $67,050.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.