Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a single-family home to be owner occupied Entity Name: Subicca Estate Developers and Management Limited Partnership Entity Address: 215-219 Littleton Avenue, Newark, New Jersey 07103 Sale Amount: $29,733.00 Cost Basis: ( X ) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $29,700.00 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) 381 Littleton Avenue/Block 300 /Lot 50/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,477.75 X $12.00 = $29,733.00. 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 February 14, 2025

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