Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To build two (2) family multi-units and rent back to the community at a reasonable market rate. Entity Name: Maximum Holding Group 1, LLC Entity Address: 1162 St. Georges Avenue, Suite 265, Avenel, New Jersey 07001 Sale Amount: $40,000.00 Cost Basis: (X) $8.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $61,300.00 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) 437 S. 17th Street/Block 321/Lot 23/West Ward 496 S. 17th Street/Block 327/Lot 41/West Ward Additional Information: Sale Price: Total Square Footage X $8.00 = 5,000 X $8.00 = $40,000.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.