Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New Construction and/or rehabilitation of properties to create approximately ten (10), two-family homes for-sale to moderate-income families Entity Name: United Community Corporation Entity Address: 332 South 8th Street, Newark, New Jersey 07103 Sale Amount: $56,169.72 Cost Basis: (X) $2.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $546,000.00 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 List of Property: (Address/Block/Lot/Ward) 38 Blum Street/Block 306/Lot 16/Central Ward 42 Blum Street/Block 306/Lot 18/Central Ward 44 Blum Street/Block 306/Lot 19/Central Ward 491 S 10th Street/Block 308/Lot 3/Central Ward 493 S 10th Street/Block 308/Lot 4/Central Ward 497 S 10th Street/Block 308/Lot 6/Central Ward 503 S 10th Street/Block 308/Lot 9/Central Ward 505-507 S 10th Street/Block 308/Lots 10,11/Central Ward 511 S 10th Street/Block 308/Lot 13/Central Ward 513-515 S 10th Street/Block 308/Lot 14/Central Ward Additional Information: Total Sale Price: Square Footage X PSF = 28,084.86 X $2.00 = $56,169.72 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Property.