Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop the property into a storage place for company vehicles. Entity Name: J Duncan & Son, LLC Entity Address: 415 Halsey Street, Newark, New Jersey 07102 Sale Amount: $120,000.00 Cost Basis: (X) $16.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $225,000.00 Appraised Amount: $0.00 Contract Period: To be commenced within three (3) months and be completed within twelve (12) months following transfer of property ownership by the City 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) 360-364 Hawthorne Avenue/Block 3614/Lot 4/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 7,500 X $16.00 = $120,000.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. No Action Taken 7R2-d (s) 081721