Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate property as rental or for-sale housing. Entity Name: Ikenga Group, LLC Entity Address: 656-658 S. 14th Street, Newark, New Jersey 07103 Sale Amount: $10,000.00 Cost Basis: (X) $ 4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $160,300.00 Appraised Amount: $0.00 Contract Period: To be commenced within 3 months and be completed within 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) 113 S. 12th Street/Block 1859/Lot 19/West 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 7, 2004, establishing the minimum sale price of City-owned property.