Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop the property to expand a side yard and create parking for the adjacent real-estate property located at 760 South 15th Street, Newark, New Jersey 07103. Entity Name: Janet Ojeabulu Entity Address: 760 South 15th Street, Newark, New Jersey, 07103 Sale Amount: $9,500.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $30,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) months from the transfer of 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) 758 South 15th Street/Block 2634/Lot 32/South Ward Additional Information: Sale Price: Total Square Footage x PSF = 2,375 X $4.00 = $9,500.00 Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned properties.