Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate property as rental or for-sale housing Entity Name: Newark Developers, LLC. Entity Address: 7312 Cottage Avenue, North Bergen, New Jersey 07047 Sale Amount: $17,296.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $111,000.00 Appraised Amount: $0.00 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) 245-247 Avon Avenue/Block 2625/Lot 12/South Ward Additional Information: Total Square Footage = 4,324 X $4.00 = $17,296.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties