Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop the properties into one (1), two (2), or three (3)-family residential units, with or without additional retail use Entity Name: Option One Redevelopment Group, LLC. Entity Address: 456 Washington Street, Newark, New Jersey 07102 Sale Amount: $94,800.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $208,200.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) 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) 648 South 13th Street/Block 316/Lot 31/South Ward 646 South 13th Street/Block 316/Lot 32/South Ward 644 South 13th Street/Block 316/Lot 33/South Ward 777 South 13th Street/Block 2648/Lot 5/South Ward 147 Johnson Avenue/Block 2700/Lot 6/South Ward 155 Ridgewood Avenue/Block 2703/Lot 1/South Ward 159 Ridgewood Avenue/Block 2703/Lot 3/South Ward 161 Ridgewood Avenue/Block 2703/Lot 4/South Ward 439 Badger Avenue/Block 3573/Lot 15/South Ward Additional Information: Total Square Footage = 23,700 X $4.00 = $94,800.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned property.