Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a mixed-use complex consisting of approximately 66 units of housing, of which approximately 16 units will be affordable housing and approximately 16 affordable workshops where tenants will operate small businesses, as well as the rehabilitation of the Krueger- Scott Mansion into a business incubation space, with approximately 20,000 square feet of office space for local commercial entities. Entity Name: Newark Makerhoods, LLC. Entity Address: 200 Central Park South-9R, New York, New York, 10019-1001 Sale Amount: $605,396.10 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $1,223,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within thirty six (36) 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) 145 Court Street/Block 2508/Lot 18/Central Ward 143 Court Street/Block 2508/Lot 19/Central Ward 141 Court Street/Block 2508/Lot 20/Central Ward 137 Court Street/Block 2508/Lot 22/Central Ward 139 Court Street/Block 2508/Lot 21/Central Ward 597-601 ML King Boulevard/Block 2508/Lot 29/Central Ward 607-609 ML King Boulevard/Block 2508/Lot 34/Central Ward 20-22 College Place/Block 2508/Lot 43/Central Ward 24-26 College Place/Block 2508/Lot 46/Central Ward 28 College Place/Block 2508/Lot 47/Central Ward 129-135 Court Street/Block 2508/Lot 52/Central Ward Additional Information: Total Square Footage = 60,539.61 X $10.00 = $605,396.10 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties