Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop properties into one (1) new residential three-family structure and one (1) new two-family structure for rent. Entity Name: ASG and Son Development, LLC Entity Address: Newark, New Jersey 07112 Sale Amount: $43,179.60 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $100,400.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed with 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) 19 Kent Street/ Block 2616/Lot 1/South Ward 21 Kent Street/Block 2616/ Lot 2/South Ward 29 Kent Street/Block 2616/Lot 6/South Ward Additional Information: Total Price: Square Footage X PSF = 7,196.60 X $6.00 = $43,179.60. Sales at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-d 040523