Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a three-family residential dwelling that will be sold at market rate Entity Name: Ahmed Burks LLC Entity Address: 222 Semel Avenue, Garfield, New Jersey, 07026 Sale Amount: $90,804.00 Cost Basis: (X) $23.00 PSF ( ) Negotiated ( ) N/A ( ) Other Assessed Amount: $85,800.00 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) 598-598- Bergen Street / Block 2660 / Lot 39 / South Ward Additional Information: Sale Price: Total Square Footage X PSF = 3,948 X $23.00 = $90,804.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned property