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: AC and J Restoration Group, Corporation Entity Address: 836 S 19th Street, Newark, New Jersey 07108 Sale Amount: $55,847.20 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $520,400.00 Appraised Amount: $0.00 Contract Period: To commence within (3) three months and be completed within (12) twelve 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) 37 Shanley Avenue/Block 2652/Lot 14/South Ward 796 S 14th Street/Block 2648/Lot 41/South Ward 786 S 17th Street/Block 2636/Lot 36/South Ward 770 S 17th Street/Block 2636/Lot 43/South Ward 768 S 17th Street/Block 2636/Lot 44/South Ward Additional Information: Total Square Footage = 13,961.8 X $4.00 = $55,847.20 Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned Properties