Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate property into a mixed-use building containing residential housing with a commercial store front. Entity Name: Taino’s Kitchen, LLC Entity Address: 849 Mt. Prospect Avenue, Newark, New Jersey 07104 Sale Amount: $37,080.00 Cost Basis: (X) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $30,300.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) months following transfer of property’s ownership from the City to 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) 710 Summer Avenue/Block 763/Lot 15/North Ward Additional Information: Sale Price: Total Square Footage X PSF = 3,090 X $12.00 = $37,080.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.