Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelopment of City-owned Properties for use as parking for a Banquet Hall located at 621-625 Orange Street (West Ward) Entity Name: Supreme Realty, Inc. Entity Address: 621-625 Orange Street, Newark, New Jersey 07107 Sale Amount: $80,000.00 Cost Basis: ( ) $ PSF () Negotiated ( X ) N/A ( ) Other: Assessed Amount: $187,500.00 Appraised Amount: $ 80,000.00 Contract Period: Construction to be completed within six (6) months of conveyance of title 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: (Block/Lot/Address/Ward) BLOCK LOT ADDRESS WARD SIZE AREA APPRAISAL 1900.01 1 621 Orange St West 28.1’ x 78.3’ 2,200.23 $15,000.00 1900.01 2 623 Orange St West 25’ x 79.3’ 1,982.50 $15,000.00 1900.01 3 625 Orange St West 25’ x 79.3’ 1,982.50 $15,000.00 1899 27 5-9 South 14th St. West 64.4x75.2 4842.88 $35,000.00 Total 11,008.11 $80,000.00 Additional Information: Legislation recinds Resolutions 7RE(S) 030706; 7R3-G 010709 and any prior legislation authorizing or attempting to authorize the conveyance of the above listed properties.