Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To create an urban farm and holistic school, with a permanent ADA-compliant bathroom, and chicken coup to enhance production and enrich the soil. Entity Name: Rabbit Hole Farm Newark, Inc. Entity Address: Newark, New Jersey 07108 Sale Amount: $41,400.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $56,400.00 Appraised Amount: $0.0 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) 36 Rose Terrace/Block 2625/Lot 49/ South Ward 38 Rose Terrace/Block 2625/Lot 50/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 6,900 X $6.00 = 41,400.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.