Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a new two- family home to be sold at market rate Entity Name: SEMAJ HOLDINGS, LLC Entity Address: 419 15th Avenue, Newark, New Jersey 07103 Sale Amount: $66,062.50 Cost Basis: (X) $25.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $11,500.00 Appraised Amount:$0.0 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) 81 North Munn Avenue/Block 4213/Lot 5/ West Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,642.50 X $25.00 = $66,062.50 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 9, 2026

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