Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To build a fifteen (15) unit, multi-family building for off-campus student housing by adding the above-mentioned property to the adjacent properties at 8 and 10 Summit Street (Block 2828, Lots 61 and 57). Entity Name: Mission Realestate Projects, LLC Entity Address: 211 Warren Street, Newark, New Jersey 07103 Sale Amount: $10,459.40 Cost Basis: (X) $7.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $32,200.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) months following 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) 110 James Street/Block 2828/Lot 1/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 1,494.20 X $7.00 = $10,459.40 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-c 102120 Deferred 7R2-b 110520 Deferred 7R2-b 111820 Deferred 7R2-b 120220 Deferred 7R2-b 122220 Deferred 7R2-a 010621