Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Public Real Estate Auction Purpose: Accept bids and execute Quitclaim Deeds for properties sold at public auction on November 2, 2017 Date of Auction: November 2, 2017 Location of Auction: Newark Symphony Hall, 1020 Broad Street, Newark, New Jersey 07102 Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other: Contract Basis: (X) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS (X) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property: Refer to Resolution, Exhibit A Additional Information: Total Sale Amount $2,628,500.00 Total Earnest Money Deposit as per Exhibit A $152,533.00 ¼ Annual Property Tax as a refundable deposit, held in escrow to insure Conditions of Sale compliance Failed 7R2-g (as) 111317