Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To provide for new construction of two (2) three-family homes and one (1) mixed-use building containing commercial space and two (2) residential units. Entity Name: CDN Development, LLC Entity Address: 290 Ferry Street, Newark, New Jersey 07105 Sale Amount: $102,037.21 Cost Basis: (X) $11.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $230,400.00 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) 216 Hawthorne Avenue/Block 3590/Lot 29/South Ward 218 Hawthorne Avenue/Block 3590/Lot 28/South Ward 220 Hawthorne Avenue/Block 3590/Lot 27/South Ward 526-530 Springfield Avenue/Block 314/Lot 9/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 9,276.11 X $11.00 = $102,037.21. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.