Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate the properties as affordable rental or for-sale housing Entity Name: Urban Rehab Projects, LLC Entity Address: 21-23 Beverly Street, Newark, New Jersey 07108 Sale Amount: $42,220.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $194,200.00 Appraised Amount: $0.00 Contract Period: To be commenced 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) 87 Goodwin Avenue/Block 3620/Lot 12/South Ward 89-91 Goodwin Avenue/Block 3620/Lot 13/South Ward 79-81 Chelsea Avenue/Block 4214/Lot 59/West Ward Additional Information: ADDRESS WARD BLOCK LOT SIZE SQ. FEET 87 Goodwin Avenue South 3620 12 30.3X125 3,787.5 89-91 Goodwin Avenue South 3620 13 29.1X125 3,637.5 79-81 Chelsea Avenue West 4214 59 31.3X100 3,130.0 Total Square Footage: 10,555 Total Purchase Price: $42,220.00 ($4.00 per sq. ft.); and Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties.