Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Renovation of the Property as a commercial garage for removal depository, sorting and passive storage facility. Entity Name: Rehab Home Builders L.L.C. Entity Address: 79-81 Shanley Avenue, Newark, New Jersey 07108 Sale Amount: $30,000.00 Cost Basis: (x ) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $186,600.00 Appraised Amount: N/a Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 236 Fabyan Place/ Block 3084.01/ Lot 6/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,500 X $12.00 = $30,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.

Resolution Adopted Introduced October 16, 2024

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