Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelopment project for warehouse/distribution and/or light manufacturing uses (North Ward) Entity Name: 123-131 Riverside Urban Renewal, LLC. Entity Address: 857 Broad Street, Newark, New Jersey 07102 Sale Amount: $50,000.00 Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $5,001,900.00 Appraised Amount: $2,955,000.00 Contract Period: To commence within three (3) months and be completed within two (2) years 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) 49-59 Riverside Avenue/Block 614/Lot 58/North Ward 77-83 Riverside Avenue/Block 674/Lot 4/North Ward 85 Riverside Avenue/Block 674/Lot 3/North Ward 87-101 Riverside Avenue/Block 674/Lot 5/North Ward 123-129 Riverside Avenue/Block 725/Lot 12/North Ward 1682-1696 McCarter Highway Rear/Block 614/Lot 68/North Ward 1700-1712 McCarter Highway Rear/Block 614/Lot 63/North Ward 1702-1716 McCarter Highway/Block 614/Lot 64/North Ward 1718-1728 McCarter Highway/Block 614/Lot 61/North Ward 1826-1848 McCarter Highway/Block 725/Lot 16/North Ward Additional Information: