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 (with or without additional retail use) Entity Name: Shanley Ave Group, LLC. Entity Address: 79-81 Shanley Avenue, Newark, New Jersey 07108 Sale Amount: $60,027.52 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $390,400.00 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) 735 S 15th Street/Block 2635/Lot 9/South Ward 293-299 Madison Avenue/Block 2648/Lot 23/South Ward 8511/2 S 16th Street/Block 3012/Lot 9/South Ward Additional Information: Total Square Footage = 15,006.88 X $4.00 = $60,027.52 Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned Properties.