Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop an affordable three-family house and an affordable one-family house. Entity Name: Three Properties, LLC Entity Address: Newark, New Jersey 07112 Sale Amount: $34,618.80 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $137,900.00 Appraised Amount: $0.00 Contract Period: To be commenced within three (3) months and be completed within twelve (12) months following transfer of property ownership by the City 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) 53 Woodland Avenue/Block 2619/Lot 34/South Ward 51 Woodland Avenue/Block 2619/Lot 36/South Ward 92 West Alpine Street/Block 2693/Lot 61/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 5,769.8 X $6.00 = $34,618.80. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-f 052423