Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a multi-family home to sell at market rate. Entity Name: 183 Jelliff LLC Entity Address: 111 Mulberry Street, Apt 1Q, Newark, New Jersey 07102 Sale Amount: $28,875.00 Cost Basis: ( X ) $11.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $0.00 Appraised Amount: $21,700.00 Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 183 Jelliff Avenue/ Block 2662/ Lot 27/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,625 X $11.00 = $28,875.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties