Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To serve as additional trailer parking for the newly constructed warehouse Entity Name: 54 Lockwood Street Urban Renewal, LLC Entity Address: 17 Blanchard Street, Newark, New Jersey, 07105 Sale Amount: $197,800.00 Cost Basis: ( ) PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $197,800.00 Appraised Amount: $0.00 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) 335-347 Raymond Blvd Rear /Block 2407/Lot 81/ East Ward Additional Information: Sale Price: Total Square Footage X PSF = 24,600 X Negotiated Price = $197,800.00 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 June 16, 2026

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