Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitation of the property as ancillary parking to the adjacent Daycare and Church. Entity Name: Gospel Light Church of God in Christ Jesus, Apostolic, Inc. Entity Address: 684 Springfield Avenue, Newark, New Jersey 07103 Sale Amount: $10,000.00 Cost Basis: ( ) $ PSF (X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $50,600.00 Appraised Amount: $20,000.00 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 (X ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 682 Springfield Avenue/Block 366/Lot 27/South Ward Additional Information: Approximately $5.76 per sq. ft.