Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Build a repair and maintenance facility for tractor trailers. Entity Name: Daybreak Express, Inc. Entity Address: 500 Avenue P, Newark, New Jersey 07105 Sale Amount: $2,100,000.00 Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $742,100.00 Appraised Amount: $1,960,000.00 Contract Period: To commence by June 2016 and be completed within 24 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) 441-459 Avenue P/5020/132/East Ward Additional Information: Sale amount is subject to a credit, not to exceed $1,600,000.00, for Environmental Remediation costs as provided for in Section 3.2(c) of the Redevelopment Agreement.