Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Agreement Purpose: To provide for the new construction of a mixed-use, mixed-income building with first floor commercial space and community benefit/social service space and approximately fifty-one (51) residential units. Entity Name: Harlem Congregations for Community Improvement, Inc. Entity Address: New York, New York 10039 Sale Amount: $109,714.50 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $77,000.00 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) 59-65 Avon Avenue/ Block 2593/ Lots 15/Additional Lots 16, 17 and 18/Central Ward 67 Avon Avenue/Block 2593/Lot 19/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 18,285.75 X $6.00 = $109,714.50. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.