Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Build four (4) one, two or three-family affordable homes. Entity Name: New Community Corporation Entity Address: 233 West Market Street, Newark, New Jersey 07103 Sale Amount: $40,000.00 Cost Basis: (X ) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $122,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) months following transfer of Properties’ 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 Properties: (Address/Block/Lot/Ward) 473 15th Avenue/Block 290/Lot 1/Central Ward 471 15th Avenue/Block 290/Lot 2/Central Ward 429 15th Avenue/Block 292/Lot 7/Central Ward 427 15th Avenue/Block 292/Lot 8/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 10,000 X $4.00 = $40,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.