Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide for new construction of a two-family home and rehabilitation of a three-family home to sell at market rate. Entity Name: Community Collaborations, LLC Entity Address: 187 Livingston Street, Newark, New Jersey 07108 Sale Amount: $70,875.00 Cost Basis: ( X ) $15.00(S) & $12.00 (NS) PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $119,800.00 Appraised Amount: $0.00 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) 780 Bergen Street/Block 2712/Lot 39/South Ward 763 South 20th Street/Block 368/Lot 12/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,625 X $15.00 = $39,375.00, 2,625 X $12.00 = $31,500.00, $39,375 + 31,500 = $70,875.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.