Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the property for owner-occupied housing. Entity Name: Lolita Gooden Entity Address: 250 Madison Avenue, Newark, New Jersey 07108 Sale Amount: $61,550.00 Cost Basis: (X ) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $220,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) months following transfer of the property ownership from 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) 802-804 South 11th Street/Block 2651/Lot 32/South Ward Additional Information: Sale Price: Total Square Footage x PSF = 6,155 X $10.00 = $61,550.00 Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned properties.