Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide new construction of an affordable one-family home and two (2) market rate three-family homes. Entity Name: HDMH Development Corp Entity Address: 60 Evergreen Place, East Orange, New Jersey 07018 Sale Amount: $118,237.77 Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $71,900.00 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) 41-43 Randolph Place/ Block 3041/Lot 35/South Ward 199 Ridgewood Avenue/Block 2703/Lot 23/South Ward 201-203 Ridgewood Avenue/Block 2703/Lot 24/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 13,137.53 X $9.00 = $118,237.77. 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-e 110123 No Action Taken 7R2-c 111323