Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop property as a private parking lot for adjacent business. Entity Name: Atta Boamah Entity Address: 702 South 12th Street, Newark, New Jersey 07103 Sale Amount: $28,166.40‬‬ Cost Basis: (X) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $66,000.00 Appraised Amount: 0.00 Contract Period: To commence 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) 703 South 11th Street/Block 2618/Lot 39/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,347.2 X $12.00 = $28,166.40‬ Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned pProperties.