Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Expand Marion P. Thomas Charter School to improve access to campus Entity Name: Friends of Marion P. Thomas Charter School Entity Address: 125 Sussex Avenue, Newark, New Jersey 07103 Sale Amount: $10,000.00 Cost Basis: (X) $2.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $60,000.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 429 15th Avenue/Block 292/Lot 7/Central Ward 427 15th Avenue/Block 292/Lot 8/Central Ward Additional Information: (Address/Ward/Block/Lot/Size/Sq. Feet) 429 15th Avenue/Central/292/7/25X100/2,500 427 15th Avenue/Central/292/8/25X100/2,500 Total Square Footage: 5,000 Total Purchase Price: $10,000.00 ($2.00 per sf.) 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-e 090618 Deferred 7R2-a 091918 Deferred 7R2-a 101118