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: 2052 McCarter Industrial Urban Renewal, LLC. Entity Address: 75 Parkhurst Street, Suite 5, Newark, New Jersey 07102 Sale Amount: $40,000.00 Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $1,532,100.00 Appraised Amount: $1,300,000.00 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) 2052-2070 McCarter Highway/Block 827-01/Lot 12/North Ward 2078-2090 McCarter Highway/Block 827-01/Lot 11/North Ward Additional Information: