Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To build (2) new two-family dwellings with (4) affordable units at an income level ranging from 40-60% of the Area Median Income (AMI). Entity Name: DJ Cool - V, LLC Entity Address: Elizabeth, New Jersey 07201 Sale Amount: $54,472.50 Cost Basis: (X) $9.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $57,200.00 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) 182 West Runyon Street/Block 3021/Lot 8/South Ward 283 West Runyon Street/Block 3035/Lot 35/South Ward Additional Information: Sale Price: Total Square Footage X Sale Price = 6052.5 X $9.00 = $54,472.50. 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 071024