Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Development of (45) units of affordable housing with ground floor commercial space Entity Name: Bergen Street Redevelopment, LLC Entity Address: 450 Washington Street, Newark, New Jersey 07102 Sale Amount: $70,988.20 Cost Basis: ( X ) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $463,900.00 Appraised Amount: N/A Contract Period: 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 ( X ) RFP ( ) RFQ ( X ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 1037-1047 Bergen St., Newark, NJ 07112, Block 3661, Lots 3/South Ward 1057-1059 Bergen St., Newark, NJ 07112, Block 3660 Lot 11/South Ward Additional Information: Block 3661, Lots 5 and 8 were merged into Lot 3 No Action Taken, November 20, 2012