Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the property which will be the new home of ACP, LLC and its owner/operator. Entity Name: Angel Concepcion Entity Address: Newark, New Jersey 07018 Sale Amount: $51,150.00 Cost Basis: (X) $15.00 PSF ( ) Negotiated ( ) N/A (X) Other: Assessed Amount: $99,500.00 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) 138 Telford Street/Block 4203/Lot 14/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 3,410 X $15.00 = $51,150.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.