Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Demolish the property and combine it with the adjacent parcels for a veterans targeted housing project with parking. Entity Name: Domus Corporation Entity Address: 590 North 7th Street, Newark, New Jersey 07107 Sale Amount: $5,000.00 Cost Basis: (X) $2.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $157,600.00 Appraised Amount: $0.00 Contract Period: To be commenced 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) 108 3rd Avenue/Block 526/Lot 10/Central Ward Additional Information: Total Square Footage = 2,500 X $2.00 = $5,000.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties