Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the property into a tailoring shop offering customized tailor services, and a training space for youth to learn tailoring, design and entrepreneurship skills Entity Name: COOLKID 49 Corp. Entity Address: 297 Meeker Avenue, Newark, New Jersey 07112 Sale Amount: $46,080.00 Cost Basis: (X) $20.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $164,700.00 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) 567 Bergen Street/Block 2659/Lot 53/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,304 X $20.00 = $46,080.00. 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 July 15, 2025

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