Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate property for ancillary use with adjacent business Entity Name: Manny & MGA, LLC. Entity Address: 431 South Street, Newark, New Jersey, 07105 Sale Amount: $10,000.00 Cost Basis: (X) Approximately $5.74 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $24,000.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within six (6) 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) 449-457 South Street/Block 5088-03/Lot 24/East Ward Additional Information: Total Square Footage = 1,742.4 X Approximately $5.74 = $10,000.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned property.