Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Public Real Estate Auction Purpose: Accept bids and execute Quitclaim Deeds for properties sold at public auction on September 16, 2014 Date of Auction: September 16, 2014 Location of Auction: Newark Symphony Hall, 1020 Broad Street, Newark, New Jersey Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other: Contract Basis: (X ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( X ) n/a List of Property: Refer to Resolution, Exhibit A Additional Information: Total Sale Amount as per Schedule A, $2,530,500.00; Total Earnest Money Deposit as per Schedule A $394,850.00 ¼ Annual Property Tax as a refundable deposit, held in escrow to insure Conditions of Sale compliance.