Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate vacant lot to create a side-yard for the adjacent owner occupied home. Entity Name: Fernando Sousa Entity Address: 5 Saint Charles Street, Newark, New Jersey 07105 Sale Amount: $8,350.00 Cost Basis: (X) $5.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $17,000.00 Appraised Amount: $20,000.00 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) 365-369 Ferry Street/Block 2049/Lot 1/East Ward Additional Information: Total Square Footage = 1670 X $5.00 = $8,350.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Property.