Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate the property to create a neighborhood restaurant Entity Name: Micano Evra Entity Address: 93 Mount Vernon Place, Newark, New Jersey 07106 Sale Amount: $48,000.00 Cost Basis: ( ) $ PSF ( X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $465,700.00 Appraised Amount: $ N/A 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) 795-799 Sandford Avenue/Block 4133/Lot 5/West Ward Additional Information: Total Square Footage = 5,826. Sale Price is approximately $8.24 per sq. ft.