Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop two (2) affordable two-family luxury homes. Entity Name: Vision Investment Group, Limited Liability Company Entity Address: East Orange, New Jersey 07018 Sale Amount: $39,960.00 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) 665 South 15th Street/Block 359/Lot 18/South Ward 549 18th Avenue /Block 360/Lot 3/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 4,995 X $8.00 = $39,960. 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-c 101823