Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate a storage unit to be utilized by adjacent property owner and tenants. Entity Name: BVW Holdings, LLC Entity Address: 178 Wainwright Street, Newark, New Jersey 07112 Sale Amount: $2,611.02 Cost Basis: (X ) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $44,800.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by 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 Property: (Address/Block/Lot/Ward) 548 15th Avenue/Block 330/Lot 50/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 652.8 X $4.00 = $2,611.02 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.