Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide new construction of a two-family dwelling to sell at market rate Entity Name: GEJJ Urban Development LLC Entity Address: 400 Harrison Avenue, Suite 204, Harrison, New Jersey 07029 Sale Amount: $26,250.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other Assessed Amount: $55,000.00 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) 596 Bergen Street/Block 2660/Lot 40/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,625 X $10.00 = $26,250.00. 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-a 020525 Deferred 7R2-a 021925 Deferred 7R2-a 030525