Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitation of Frank R. Lautenberg Post Office and Courthouse Entity Name: KMS Development Partners, LP Entity Address: 1600 Arch Street, Suite 300, Philadelphia, Pennsylvania 19103-2028 Sale Amount: $N/A Cost Basis: ( ) $ PSF ( ) Negotiated ( x ) N/A ( ) Other: Assessed Amount: $N/A Appraised Amount: $N/A Contract Period: December 31, 2015, unless extended by both parties Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( x ) n/a List of Property: (Address/Block/Lot/Ward) 2 Federal Square, Newark, New Jersey (AKA 13-57 Walnut Street) /Block 875/ Lot 54/East Ward Additional Information: Resolution 7R3-E 060712 authorized a collaboration agreement between the City and KMS for the rehabilitation of the Court House and Post Office through a subsequent purchase-lease arrangement. Invitation: Director of Economic & Housing Development, March 4, 2014 Deferred 7R3-c 030514