Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of three, two (2) or three (3) family homes to rent at or below market rate Entity Name: T& L Homeworks LLC Entity Address: 8 Oak Hill Road, Branchburg, New Jersey 08853 Sale Amount: $127,316.00 Cost Basis: (X) $14.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $67,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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) 277 Weequahic Avenue/Block 3724/Lot 33/South Ward 160-66 Wainwright Street/ Block 3070/ Lot 1/ South Ward 50 South 13th Street//Block 1867/Lot 60/ West Ward Additional Information: Sale Price: Total Square Footage X PSF = 9,094 X $14.00 = $127,316.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-f 031826