Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop dilapidated properties into five (5) multi-family homes. Entity Name: JD Restoration, LLC Entity Address: Newark, New Jersey 07103 Sale Amount: $149,900.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $390,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of 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) 95-97 Shanley Avenue/Block 3005/Lot 13/South Ward 816 S 15th Street/Block 2647/Lot 37/South Ward 814 S 15th Street/Block 2647/Lot 38/ South Ward 674-676 S 18th Street/Block 357/Lot 43/South Ward 678 S 18th Street/Block 357/Lot 41/South Ward Additional Information: Total Square Footage = 2,375 X 6.00 + 13,565 X $10.00 = $149,900.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.