Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop a modern eleven (11) story building consisting of approximately 300 apartments with ground floor retail parking and roof top amenities at 178 Orange Street and 72-76 Boyden Street, and to build a new construction of a two-family home at 401 New Street. Entity Name: NY Construction Services, LLC Entity Address: 28 Central Avenue, Newark, New Jersey 07102 Sale Amount: $36,357.84 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $319,100.00 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) 401 New Street/Block 1839/Lot 28/Central Ward 178 Orange Street/Block 2858/Lot 1/Central Ward 72-76 Boyden Street/Block 2858/Lot 45/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 6,059.64 X $6.00 = $36,357.84. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.