Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitating the properties for use as an owner-occupied residence. Entity Name: Frederick Cooke Entity Address: 1186 Raymond Boulevard, Newark, NJ 07102 Sale Amount: $40,000.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: _________ Assessed Amount: $302,000.00 Appraised Amount: Information not provided Contract Period: To commence within (3) months and be completed within 18 months from the transfer of ownership 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 385-387 Parker Street/Block 607/Lot 49/North Ward 389-391 Parker Street/Block 607/Lot 51/North Ward Additional Information: 2010 Rolling Sale II/City-Owned Vacant Land and Structures Failed 7R3-e 060211 Invitation: Economic and Housing Development Director, June 14, 2011