Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelopment of the Property Entity Name: Rose Hill Plaza, LLC Entity Address: 5 Rose Manor Drive, Newark, New Jersey 07106 Sale Amount: $ 2,120,000.00 Cost Basis: ( ) $ PSF ( X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $3,932,300.00 Appraised Amount: $2,120,000.00 Contract Period: Thirty (30) days from issuance of all permits and completed within Nine (9) months 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) 491-557 Irvington Avenue/Block 4274/Lot 3/West Ward Additional Information: Ordinance 6S&FC 030601; Approved West Ward Redevelopment Plan and relocation of various City Owned parcels. Ordinance 6S&FJ 112001; Approved First Amendment to West Ward Plan. Ordinance 6S&FC(S) 081705; Approved Second Amendment to West Ward Plan.