Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To acquire property to improve and expand existing redeveloper owned car wash. Entity Name: Essex Car Wash and Auto Repairs, Inc. Entity Address: 576-578 Springfield Avenue, Newark, New Jersey 07103 Sale Amount: $15,631.20 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $24,200.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 650-652 South 13th Street/Block 316/Lot 30/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,605.2 X $6.00 = $15,631.20. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.