Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the existing structures to create rental or for-sale housing. Entity Name: MCI Construction Services, LLC Entity Address: 136 Tiffany Boulevard, Suite 335, Newark, New Jersey 07104 Sale Amount: $50,000.00 Cost Basis: (X ) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $331,800.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 192 South 10th Street/Block 1813/Lot 57/West Ward 223 South 10th Street/Block 1814/Lot 24/West Ward Additional Information: Total Price: Square Footage X PSF = 5,000 X $10.00 = $50,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.