Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Create extended parking for the entity’s adjacent business at 74 Parkhurst Street Entity Name: PBJ Realty Company, LLC. Entity Address: 27 Austin Street, Newark, New Jersey 07114 Sale Amount: $55,000.00 Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other: Appraised Value Assessed Amount: $65,300.00 Appraised Amount: $55,000.00 Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 76 Parkhurst Street/Block 900/Lot 12/East Ward Additional Information: Property sold for appraised value equivalent to $25.8519 per square foot