Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate properties as affordable rental or for-sale housing Entity Name: Community Asset Preservation Corporation Entity Address: 421 Halsey Street, Newark, New Jersey 07102 Sale Amount: $33,764.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $358,800.00 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) 17-19 Seymour Avenue/Block 2656/Lot 15/South Ward 13-15 Scheerer Avenue/Block 3639/Lot 77/South Ward Additional Information: Total Square Footage = 8,441. X $4.00 = $33,764.00 Sale to community partner providing affording housing opportunities, at prices set forth by Ordinance 6S&FH 040704 establishing the minimum sale price of City-owned property.