Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Lease Property to Interim Redeveloper for use as a parking facility Entity Name: 3J’s Development Group, LLC Entity Address: 500 Avenue P, Newark, New Jersey 07105 Sale Amount: $12,000.00/month Cost Basis: ( ) $ PSF ( X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $2,632,000.00 Appraised Amount: $2,650,000.00 Contract Period: Effective Date of Interim Redevelopment Agreement through Closing or as otherwise provided in accordance with the terms of the Interim Redevelopment Agreement 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) 646-696 Frelinghuysen Avenue Rear/Block 3782/Lot 109/South Ward Additional Information: This Interim Redevelopment Agreement is related to 7R2-c, adopted on April 4, 2018 (the original redevelopment agreement), and Legistar 18-1069 which allows for this Interim Redevelopment Agreement. Deferred 7R2-e (s) 091118