Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of eight (8) 2-3 family dwellings Entity Name: S 12th View LLC Entity Address: 40 Clifton Street, Newark, New Jersey, 07114 Sale Amount: $1,277,800.00 Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $187,500.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of property ownership from the City to the Redeveloper 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) 317-319 S 12th Street /Block 1785/ Lot 1/ West Ward 321-323 S 12th Street /Block 1785/ Lot 2/ West Ward 325 S 12th Street /Block 1785/ Lot 4/ West Ward 327 S 12th Street /Block 1785/ Lot 5/ West Ward 329 S 12th Street /Block 1785/ Lot 6/ West Ward 331-333 S 12th Street /Block 1785/ Lot 7/ West Ward 335 S 12th Street/Block 1785/Lot 8/ West Ward Additional Information: Sale Price: Negotiated = $1,277,800.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties