Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate the property by demolishing the existing structure and creating a side-yard for his adjacent property at 411 South 18th Street, Newark, New Jersey Entity Name: Ryan Hiwat Entity Address: 394 Sandford Avenue, Newark, New Jersey 07106 Sale Amount: $9,644.00 Cost Basis: (X ) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $47,900.00 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) 413 South 18th Street/Block 322/Lot 11/West Ward Additional Information: Total Square Footage = 2,411 X $4.00 = $9,644.00