Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop property into twenty-three (23) residential units for the disabled, first-time home buyers, seniors, and veterans. Entity Name: Rose Cap Holdings, LLC Entity Address: Newark, New Jersey 07102 Sale Amount: $154,608.00 Cost Basis: (X) $8.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $178,300.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within 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 Properties: (Address/Block/Lot/Ward) 243-249 Rose Street/Block 2611/Lots 52-55/Central Ward 255 Rose Street/ Block 2611/Lot 58/Central Ward 257 Rose Street/ Block 2611/Lot 59/Central Ward 287- Rose Street/ Block 2612/Lot 44/Central Ward 313 Rose Street/ Block 2612/Lot 56/Central Ward 315-317 Rose Street/ Block 2612/Lot 57/Central Ward Additional Information: Total Price: Square Footage X PSF = $8.00 X 19,326 = $154,608.00. Sales at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.