Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a 3-family home to rent out at market rate Entity Name: Na Tak Realty Associates LLC Entity Address: 308 Kings Court, Woodbridge, New Jersey 07095 Sale Amount: $50,000.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $157,700.00 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) 86-88 South 10th Street/ Block 1856/ Lot 49/ West Ward Additional Information: Sale Price: Total Square Footage X PSF = 5,000 X $10.00 = $50,000.00. 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-b 050725 Failed 7R2-a 052125