Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of an eighty (80) to one hundred (100) unit residential apartment building, with a minimum of 20% designated as affordable housing, at 198-202 Meeker Avenue. Development of a truck and trailer parking facility at 847-983 Doremus Avenue, leveraging its proximity to the Port of Newark and surrounding industrial area for port-related use. Redevelopment of 77-101 Riverside Avenue for industrial use following a comprehensive environmental review, beginning with a site investigation report and completion of all necessary environmental remediation Entity Name: 847-983 Doremus Avenue, LLC Entity Address: 500 Avenue P, Newark, New Jersey 07105 Sale Amount: $4,000,000.00 Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $2,237,300.00 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) 847-896 Doremus Avenue/ Block 5082 Lot 74/ East Ward 198-202 Meeker Avenue/Block 3730.01 Lot 2/ South Ward 77-83 Riverside Avenue/Block 674 Lot 4/ North Ward 85 Riverside Avenue/Block 674 Lot 3/ North Ward 87-101 Riverside Avenue/Block 674 Lot 5/ North Ward Additional Information: Sale Price: Negotiated = $4,000.000.00. 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 April 10, 2026

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