Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate property and sell to an owner-occupant homeowner at 80% AMI or less. Entity Name: Community Asset Preservation Corporation Entity Address: 100 Albany Street, Suite 250, New Brunswick, New Jersey 08901 Sale Amount: $12,764.08 Cost Basis: ( X ) $8.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $83,100.00 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) 90 Garside Street/Block 490/Lot 23/ Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 1,595.51 X $8.00 = $12,764.08. 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-g 080724