Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelop the properties as affordable rental or for-sale housing. Entity Name: Ascension Capital Partners I, LLC. Entity Address: 59 Lincoln Park, Newark, New Jersey 07102 Sale Amount: $94,791.60 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $189,500.00 Appraised Amount: $0.00 Contract Period: To be commenced 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) 521 S 15th Street/Block 333/Lot 19/West Ward 523 S 15th Street/Block 333/Lot 20/West Ward 518 S 16th Street/Block 333/Lot 58/West Ward 520-526 S 16th Street/Block 333/Lot 59/West Ward 528-530 S 16th Street/Block 333/Lot 64/West Ward 538-540 S 16th Street/Block 333/Lot 69/West Ward Additional Information: Total Square Footage = 23,697.9 X $4.00 = $94,791.60 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties