Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To demolish the existing structures and construct three (3) three-family homes with onsite parking. Entity Name: South 14 Properties, LLC Entity Address: 656-658 S 14th Street, Newark, New Jersey 07103 Sale Amount: $40,320.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $169,600.00 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) 662 S 14th Street/Block 361/Lot 45/South Ward 664 S 14th Street/Block 361/Lot 38/South Ward 666 S 14th Street/Block 361/Lot 37/South Ward 668 S 14th Street/Block 361/Lot 36/South Ward Additional Information: Total Sale Price: Square Footage x PSF = 6,720 x $6.00 = $40,320.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.