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 (Central Ward) Entity Name: 281 Passaic Street Urban Renewal, LLC. Entity Address: 857 Broad Street, Newark, New Jersey 07102 Sale Amount: $40,000.00 Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $1,059,900.00 Appraised Amount: $1,000,000.00 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) 281-289 Passaic Street/Block 436/Lot 13/Central Ward 1266-1270 McCarter Highway/Block 436/Lot 18//Central Ward 1272 McCarter Highway/Block 436/Lot 21/Central Ward 1274 McCarter Highway/Block 436/Lot 22/Central Ward Additional Information: Deferred 7R2-f (s) 110817