Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop the properties to build three (3) two (2) family homes for sale. Entity Name: Michael Constantino Entity Address: 270 Goldsmith Avenue, Newark, New Jersey 07112 Sale Amount: $54,550.00 Cost Basis: (X ) $6.00/$7.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $51,500.00 Appraised Amount: $0.00 Contract Period: Commence within three (3) months and be completed within eighteen (18) months following the transfer of property ownership from 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) 658 Hunterdon Street/Block 2689/Lot 56/South Ward 95 Chadwick Avenue/Block 3000/Lot 7/South Ward 272 Goldsmith Avenue/Block 3719.04/Lot 18/South Ward Additional Information: Sale Price: Total Square Footage X PSF = (2,625 X $6.00 = $15,750.00) + (2,500 X $6.00 = $15,000.00) + (3,400 X $7.00 = $23,800.00) = $54,550.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.