Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a 3-family home consisting of one (1) owner occupied unit and two units will be rented at market rate. Entity Name: Brenner St LLC Entity Address: 26 Brenner Street, Newark, New Jersey 07108 Sale Amount: $51,435.00 Cost Basis: (X) $18.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $76,000.00 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) 24 Brenner Street/ Block 2616/ Lot 38/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,857.5 X $18.00 = $51,435.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties Deferred 7R2-b 020426