Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a 3-family home, wherein one unit will be owner occupied and the other two units will be affordable Entity Name: Operation Give Back Now A Nonprofit Corporation Entity Address: 811 Clinton Avenue, Newark, New Jersey 07108 Sale Amount: $31,000.00 Cost Basis: ( X ) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $52,700.00 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) 503 Avon Avenue/ Block 2639 /Lot 28 /South Ward Additional Information: Sale Price: Total Square Footage X PSF = 3,100 X $10.00 = $31,000.00. 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-k 121824

Resolution Adopted Introduced October 10, 2024

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