Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New Construction of one new two-family home to be sold at market rate Entity Name: Legacy Housing & Construction LLC Entity Address: 242 Highland Avenue, Newark, New Jersey 07104 Sale Amount: $57,750.00 Cost Basis: (X) $22.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $21,700.00 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) 585 Hunterdon Street / Block 2660 / Lot 26 / South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,625 X $22.00 = $57,750.00. 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-i 080526

Resolution Held in Council Introduced April 1, 2026

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