Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide a new construction of three (3) two-family homes to provide homeownership opportunities at current market value. Entity Name: Brick One, LLC Entity Address: Newark, New Jersey 07112 Sale Amount: $67,120.00 Cost Basis: (X) $8.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $71,100.00 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) 158 Renner Avenue/Block 3666/Lot 9/ South Ward 128 Seymour Avenue/Block 3019/Lot 17/South Ward 127 Seymour Avenue/Block 3024/Lot 86/South Ward Additional Information: Total Price: Square Footage X PSF = 8,390 X $8.00 = $67,120.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.