Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To combine the property with 22 and 24 Cortland Street to develop a three (3) story, ten (10) unit apartment building. Entity Name: Omega Living, LLC Entity Address: 88 St. Francis Street, Apt. 2C, Newark, New Jersey 07105 Sale Amount: $27,000.00 Cost Basis: (X) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $62,400.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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 List of Property: (Address/Block/Lot/Ward) 26 Cortland Street/Block 2482/Lot 13/East Ward Additional Information: Total Square Footage = 2,250 X $12.00 = $27,000.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned property.