Dept./ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the property to create affordable rental or for-sale housing. Entity Name: Lawrence Merrill Entity Address: 23 South Munn Avenue, Newark, New Jersey 07106 Sale Amount: $39,000.00 Cost Basis: (X ) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $173,400.00 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) 177 Renner Avenue/Block 3668/Lot 7/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 3,900 X $10.00 = $39,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.