Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct a new two-family home and sell at market rate. Entity Name: Strategic Capital Group, LLC Entity Address: Warren, New Jersey, 07059 Sale Amount: $23,625.00 Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $55,000.00 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) 640 Bergen Street/ Block 2685/Lot 40/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,625 X $9.00 = $23,625.00. 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-f 011024