Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate and rent the property to open a restaurant. Entity Name: Abdul Roberson Entity Address: Milford, New Jersey 08848 Sale Amount: $57,555.00 Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other: 45% of Assessed Amount Assessed Amount: $127,900.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) months following transfer of property ownership from the City of 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) 263 Littleton Avenue/Block 278/Lot 5/Central Ward Additional Information: Sale Price: Assessed Amount X 45% = 127,900.00 X .45 = $57,555.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.