Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelop the properties as affordable rental or for-sale housing. Entity Name: Ascension Capital Partners I, LLC Entity Address: 59 Lincoln Park, Newark, New Jersey 07102 Sale Amount: $106,080.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $130,700.00 Appraised Amount: $0.00 Contract Period: To be commenced 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) 640-642 ML King Boulevard/Block 113/Lot 6/Central Ward 636-638 ML King Boulevard/Block 113/Lot 7/Central Ward Additional Information: Total Square Footage = 17,680 X $6.00 = $106,080.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.