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 provide 1 affordable unit and 2 market rate rentals. Entity Name: Revamp Realty LLC Entity Address: 100 Levis Drive, Mount Holly, New Jersey 08060 Sale Amount: $22,500.00 Cost Basis: ( X ) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $21,300.00 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) 79 9th Avenue/ Block 1867 / Lot 40 /West Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,500 X $9.00 = $22,500.00. 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-d 080724