Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelopment to create a distribution warehouse and recreation space Entity Name: RRJ Distributors, LLC Entity Address: 318 Astor Street, Newark, New Jersey 07114 Sale Amount: $500,000.00 Cost Basis: ( ) $ PSF (X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $664,500.00 Appraised Amount: $N/A 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) 86 Avenue C/Block1275/Lot 6/East Ward 78-84 Avenue C/Block 1275/Lots 7, 25/East Ward 271 Emmet Street/Block 1275/Lot 23/East Ward Additional Information: Approximately $11.01 per sq. ft.