Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop the existing structure to create a textile training facility with office and community space. Entity Name: Aasia and Madison Foundation, Inc., a New Jersey Non-profit Corporation Entity Address: 160 Hobson Street, Newark, New Jersey 07112 Sale Amount: $51,700.00 Cost Basis: (X ) $11.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $290,600.00 Appraised Amount: $0.00 Contract Period: To commence 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) 37-41 Jones Street/Block 239/Lot 1/Central Ward Additional Information: Total Sale Price: Total Square Footage X PSF = 4,700 X $11.00 = $51,700.00