Dept./ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: The construction of a four (4) unit rental apartment house. Entity Name: Shameer Properties, LLC Entity Address: 104 Market Street, Newark, New Jersey 07102 Sale Amount: $34,771.86 Cost Basis: (X ) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $20,400.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) 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) 146-150 Sunset Avenue/Block 4059/Lots 52, 53/West Ward Additional Information: Total Price: Square Footage X PSF = 5,795.31 X $6.00 = $34,771.86 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.