Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To acquire the city-owned property to create an affordable assisted living residence for senior citizens. Entity Name: International Federal of Chaplains, Inc. Entity Address: 827 Clinton Avenue, Newark, New Jersey 07108 Sale Amount: $123,504.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $239,800.00 Appraised Amount: $0.00 Contract Period: To be commenced within three (3) months and be completed within twenty-four (24) 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) 861-869 Clinton Avenue/Block 3016/Lot 25/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 12,350.4 X $10.00 = $123,504.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.