Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate a two-family home and rent at an affordable rate of 60% AMI. Entity Name: Willow Tree Group LLC Entity Address: 104 Garrison Avenue, Dover, New Jersey 07801 Sale Amount: $34,720.00 Cost Basis: (X) $14.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $122,100.00 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) 108 Brookdale Avenue/Block 4063.01/Lot 67/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,480 X $14.00 = $34,720.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.