Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct a 4-story business resource center. The center will provide cubicles for private work spaces, conference rooms, classrooms for lectures and community meetings. Entity Name: Partnership West Inc. Entity Address: 1044 South Orange Avenue, Newark, New Jersey 07106 Sale Amount: $63,000.00 Cost Basis: ( X ) $18.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $71,000.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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) 569-571 South Orange Avenue/Block 1789/ Lot 37/ West Ward Additional Information: Sale Price: Total Square Footage X PSF = 3,500 X $18.00 = $63,000.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.