Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a professional medical office complex with parking. Entity Name: Dunbar Center, Inc. Entity Address: One Gateway, Suite 2600, Newark, New Jersey 07102 Sale Amount: $141,078.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $442,900.00 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) 775 Bergen Street/Block 2711/Lot 1/South Ward 779-781 Bergen Street/Block 2711/Lot(s) 3,4/South Ward 783 Bergen Street/Block 2711/Lot 6/South Ward 785 Bergen Street/Block 2711/Lot 7/South Ward 787-791 Bergen Street/Block 2711/Lot 8/South Ward 793 Bergen Street/Block 2711/Lot 11/South Ward 178 W Runyon Street/Block 2711/Lot 53/South Ward 174-176 W Runyon Street/Block 2711/Lot 54/South Ward 172 W Runyon Street/Block 2711/Lot 56/South Ward Additional Information: Total Square Footage = 35,269.5 X $4.00 = $141,078.00 Sale at prices set forth by Ordinance 6S&Fh adopted April 7, 2004, establishing the minimum sale price of City-owned Properties