7R2-a 23-1681 Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide for the construction of two (2) two-family homes with four (4) off-street parking spaces. Entity Name: 110 Dewey, LLC Entity Address: Newark, New Jersey 07102 Sale Amount: $54,280.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $141,100.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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) 110-116 Dewey Street/Block 3053.01/Lot 1 and 2/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 5,428 X $10.00 = $54,280.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-c 030624 Deferred 7R2-a 032024