Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Agreement Purpose: Rescind and Authorize a Redevelopment Agreement for the construction of a health care center, veterans housing facility with ground floor retail, and modest parking area. Entity Name: 432-446 South Orange Avenue, LLC Entity Address: 228 Lafayette Street, 2nd Floor, Newark, New Jersey 07105 Sales Amount: $610,000.00 Cost Basis: ( ) $ PSF ( ) Negotiated ( ) N/A (X) Other :Appraisal Assessed Amount: $527,900.00 Appraised Amount: $610,000.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) months from the transfer of ownership from the City. Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions (X) RFP ( ) RFQ (X ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 432-434 South Orange Avenue/Block 318/Lot 8/West Ward 436-440 South Orange Avenue/Block 318/Lot 4/West Ward 442-446 South Orange Avenue/Block 318/Lot 1/West Ward 454-462 South Orange Avenue/Block 319/Lot 21/West Ward 476 South Orange Avenue/Block 320/Lot4/West Ward Additional Information: