Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop the properties into a four (4) unit, three-story home and a two (2) unit, three-story home. Entity Name: L.A. Baxter Holdings, LLC Entity Address: Newark, New Jersey 07102 Sale Amount: $45,708.00 Cost Basis: (X) $6.00 - $8.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $202,600.00 Appraised Amount: $0.00 Contract Period: To be commenced within three (3) months and be completed within eighteen (18) 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) 24-26 Wainwright Street/Block 3067/Lot 19-01/South Ward (Vacant Lot) 18 Fabyan Place/Block 3078/Lot 25/South Ward (Structure) Additional Information: Vacant Lot: 3,681 square feet X $6.00 = $22,086.00. Structure: 2,952.75 square feet X $8.00 = $23,622.00. Total Sale Price: $45,708.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.