Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop eight (8), two or three- family homes; (4) homes will be sold/rented to 1st time home buyers at 120% HUD AMI and (4) homes will be sold at market rate. Entity Name: Four Quarter Partners, LLC Entity Address: Bedminister, New Jersey 07921 Sale Amount: $208,980.00 Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $231,200.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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) 276 South 9th Street/Block 1781/Lot 67.02/West Ward 278 South 9th Street/Block 1781/Lot 67.01/West Ward 280 South 9th Street/Block 1781/Lot 66/West Ward 282 South 9th Street/Block 1781/Lot 65/West Ward 284 South 9th Street/Block 1781/Lot 64/West Ward 285 South 9th Street/Block 1782/Lot 14/West Ward 287-289 South 9th Street/Block 1782/Lot 15.01/West Ward 291 South 9th Street/Block 1782/Lot 15.02/West Ward Additional Information: Total Price: Square Footage X PSF = 23,220 X $9.00 = $208,980.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.