Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop the properties into four (4) three-family and one (1) two-family residential homes. Entity Name: Apex Group Financial, LLC Entity Address: 744 Broad Street, 12th Floor, Newark, New Jersey 07102 Sale Amount: $158,808.00 Cost Basis: (X) $6.00-$10.00 PSF ( ) Negotiated ( ) N/A ( ) Other Assessed Amount: $372,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by 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 (Address/Block/Lot/Ward) 320 S 7th Street/Block 279/Lot 34/Central Ward 9-11 Peat Street/Block 288/Lot 45-02/Central Ward 13-15 Peat Street/Block 288/Lot 45-01/Central Ward 573 S 11th Street/Block 312/Lot 30-03/Central Ward 575 S 11th Street/Block 312/Lot 30-02/Central Ward Additional Information: (Address/Block/Lot/Square Feet/Vacant Land (Yes/No)) 320 S 7th Street/279/34/2,500/No 9-11 Peat Street/288/45-02/4,499/Yes 13-15 Peat Street/288/45-01/4,611/No 573 S 11th Street/312/30-03/3,977/No 575 S 11th Street/312/30-02/3,489/Yes Total Sale Price: Square Feet x PSF Properties with Structures = 11,088 square feet X $10.00 = $110,880.00 Vacant Land = 7,988 square feet X $6.00 = $47,928.00 Total Purchase Price: $158,808.00 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-i (s) 082019 Deferred 7R2-a 090519