Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate building for use as an after school program for at-risk inner-city youth Entity Name: Fhak 2.0 Academy Entity Address: 357 Lincoln Avenue, Orange, New Jersey, 07050 Sale Amount: $5,000.00 Cost Basis: (X) $2.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $40,000.00 Appraised Amount: $0.00 Contract Period: To be commenced 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) 483 15th Avenue/Block 289/Lot 4/Central Ward Additional Information: Total Square Footage = 2,500 X $2.00 = $5,000.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned property.