Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop the property into one (1), two (2), or three (3)-family residential units, with or without additional retail use Entity Name: 198 Hunterdon, LLC. Entity Address: 74 Sherman Avenue, Newark, New Jersey 07114 Sale Amount: $10,000.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $24,300.00 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) 198 Hunterdon Street/Block 243/Lot 38/Central Ward Additional Information: Total Square Footage = 2,500 X $4.00 = $10,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 4, 2004, establishing the minimum sale price of City-owned property Deferred 7R2-f (as) 041917