Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate properties as rental or for-sale housing Entity Name: Build Newark, LLP Entity Address: 1107 Convery Boulevard, 2nd Floor, Perth Amboy, New Jersey 08861 Sale Amount: $44,797.60 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $187,000.00 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) 87 Seymour Avenue/Block 3001/Lot 19/South Ward 127 Seymour Avenue/Block 3024/Lot 86/South Ward 128 Seymour Avenue/Block 3019/Lot 17/South Ward 174 Seymour Avenue/Block 3020/Lot 41/South Ward Additional Information: Total Square Footage =11,199.4 X $4.00 = $44,797.60 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties.