Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a two-family home, where one unit will be owner occupied and the other unit will be leased through the Section 8 Housing Choice Voucher Program. Entity Name: Novo Holdings LLC Entity Address: 101 Tillinghast Street, Newark, New Jersey 07108 Sale Amount: $73,836.78 Cost Basis: (X) $ 17.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $88,000.00 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) 290-292 Chadwick Avenue/Block 3590/Lot 22/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 4,343.34 X $17.00 = $73,836.78 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-c 071526

Resolution Adopted Introduced October 31, 2025

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