Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New Construction of one 2-family home and one 3-family home to sell at market rate Entity Name: Miko Property Investments LLC Entity Address: 8 Meeker Street, West Orange, New Jersey 07052 Sale Amount: $67,440.00 Cost Basis: ( X ) $12.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $56,000.00 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) 156 Alexander Street/ Block 4072/ Lot 11/ West Ward 168 South 8th Street/ Block 1811/ Lot 38/ West Ward Additional Information: Sale Price: Total Square Footage X PSF = 5,620 X $12.00 = $67,440.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.