Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To designate the Redeveloper and authorize entering into a Master Redevelopment Agreement with RPM Development, LLC and the Urban League of Essex County Opportunity Corporation for properties consisting of Block 1784, Lot 35 (Site A); Block 1784, Lots 6-8 (Site A1); Block 1784, Lots 10-11, 13-17, 55, 57-59, and 61-67 (Site B); and Block 1785, Lots 11-18, 20-24 and 64 (Site C) and located within the Fairmount Commons Redevelopment Plan under the Local Redevelopment and Housing Law. Entity Name: RPM Development, LLC and Urban League of Essex County Opportunity Corporation, jointly the Redeveloper Entity Address: RPM Development, LLC, 77 Park Street, Montclair, New Jersey 07042 and Urban League of Essex County Opportunity Corporation, 508 Central Avenue, Newark, New Jersey 07107 Sale Amount: $314,747.92 Cost Basis: ( ) PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $0.00 Appraised Amount: $0.00 Contract Period: Project Schedule attached hereto as Exhibit C 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) 381-395 South Orange Avenue/Block 1784/Lot 35/West Ward; 331 South 11th Street/Block 1784/Lot 6/West Ward; 333 South 11th Street/Block 1784/ Lot 7/West Ward; 335 South 11th Street/Block 1784/ Lot 8/West Ward; 339-341 South 11th Street/Block 1784/Lot 10/West Ward; 343 South 11th Street/Block 1784/Lot 11/West Ward; 345 South 11th Street/Block 1784/Lot 13/West Ward; 347 South 11th Street/Block 1784/Lot 14/West Ward; 349 South 11th Street/Block 1784/Lot 15/West Ward; 351 South 11th Street/Block 1784/ Lot 16/West Ward; 353 South 11th Street/Block 1784/Lot 17/West Ward; 330 South 12th Street/Block 1784/Lot 67/West Ward; 332 South 12th Street/Block 1784/Lot 66/West Ward; 334 South 12th Street/Block 1784/Lot 65/West Ward; 336 South 12th Street/Block 1784/ Lot 64/West Ward; 338 South 12th Street/Block 1784/Lot 63/West Ward; 340 South 12th Street/Block 1784/Lot 62/West Ward; 342-344 South 12th Street/Block 1784/Lot 61/West Ward; 346 South 12th Street/Block 1784/Lot 59/West Ward; 348 South 12th Street/Block 1784/Lot 58/West Ward; 350-352 South 12th Street/Block 1784/Lot 57/West Ward; 354 South 12th Street/Block 1784/Lot 55/West Ward; 343-345 South 12th Street/Block 1785/Lot 11, Add’l Lot 12/West Ward; 347 South 12th Street; Block 1785, Lot 13/West Ward; 349 South 12th Street; Block 1785, Lot 14/West Ward; 351 South 12th Street; Block 1785, Lot 15/West Ward; 353 South 12th Street; Block 1785, Lot 16/West Ward; 355 South 12th Street; Block 1785, Lot 17/West Ward; 357-359 South 12th Street; Block 1785, Lot 18/West Ward; 361 South 12th Street/Block 1785/Lot 20/West Ward; 363 South 12th Street/Block 1785/ Lot 21/West Ward; 365 South 12th Street/Block 1785/Lot 22/West Ward; 367 South 12th Street/Block 1785/Lot 23/West Ward; 369 South 12th Street/Block 1785/Lot 24/West Ward; 371-373 South 12th Street/Block 1785/Lot 64/West Ward. Additional Information: Total Price: Square Footage X PSF Sites A and A1 (27,589 SF) sold at $4 PSF ($110,356.00) Sites B and C (102,196.46 SF) sold at $2 PSF ($204,392.92) All Sites (129,785 SF) = $314,747.92 Sale at prices set forth in Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. No Action Taken 7R2-i (s) 081721