Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To renovate the property into a two-family home, designating one (1) unit at market rate and the other unit as affordable for individuals earning 80% of the Area Median Income (“AMI”). Entity Name: Parkview Renewal, LLC Entity Address: 3501 Black Horse Pike, Turnersville, New Jersey 08012 Sale Amount: $66,217.50 Cost Basis: (X) $15.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $85,500.00 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) 26-28 Parkview Terrace/Block 3660/Lot 39/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 4,414.5 X $15.00 = $66,217.50. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.