25-1689

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a new two-family residential dwelling to be sold at market rate Entity Name: Solace Realty Concepts, LLC Entity Address: 112 Lehigh Avenue 2nd Floor Newark, New Jersey 07112 Sale Amount: $50,000.00 Cost Basis: (X) $20.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $11,300.00 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) 787 South 15th Street / Block 2646 / Lot 14 / South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,500 X $20.00= $50,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned property. Deferred 7R2-a 061726

Resolution Adopted Introduced December 22, 2025

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