Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Newly construct three (3), two-family dwellings to rent at market rate Entity Name: RK Kirlew Holdings LLC Entity Address: 2 Gateway Center, Suite 2600, Newark, New Jersey 07102 Sale Amount: $82,500.00 Cost Basis: ( X ) $11.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $114,100.00 Appraised Amount: N/A 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) 789 South 18th Street/ Block 2638/ Lot 41/ South Ward 128-130 Goodwin Avenue/ Block 3624/Lot 36/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 7,500 X $11.00 = $82,500.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.

Resolution Adopted Introduced June 11, 2024

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