Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a two-family, Owner-Occupied affordable home Entity Name: Don Pedro Development Corporation Entity Address: 75 Park Avenue, Newark, New Jersey 07104 Sale Amount: $25,000.00 Cost Basis: (X) Approximately $10.20 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $12,900.00 Appraised Amount: $0.00 Contract Period: To commence 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) 284 Broad Street/Block 448/Lot 85/Central Ward Additional Information: Total Square Footage = 2,450 x approximately $10.20 per sq. ft. = $25,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties Deferred 7R2-c 080818