Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To combine property with adjacent redeveloper-owned properties to construct a five (5) story, twenty-four (24) unit mixed-use retail and residential building. Entity Name: 317 Mulberry Street Urban Renewal Co., LLC Entity Address: 27 Austin Street, Newark, New Jersey 07114 Sale Amount: $14,885.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $74,900.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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) 317 Mulberry Street/Block 881/Lot 28/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 1,488.5 X $10.00 = $14,885.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.