Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construct a mixed-use development with retail, affordable and market rate housing, and parking. Entity Name: Springfield Renaissance, LLC Entity Address: 35 James Street, Newark, New Jersey 07102 Sale Amount: $43,272.92 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $275,000.00 Appraised Amount: $0.00 Contract Period: To be commenced within 3 months and be completed within 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) 8 Livingston Street/Block 2520/Lot 60/Central Ward 6 Livingston Street/Block 2520/Lot 61/Central Ward 247-251 Springfield Avenue/Block 2520/Lot 62/Central Ward Additional Information: Total Square Footage = 10,818.23. X $4.00 = $43,272.92 Sale Price as set forth by Ordinance 6S&Fh adopted on April 7, 2004 establishing the minimum sale price of City-owned property.