Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop properties into one (1) three-family home and four (4) two-family homes. Entity Name: Sting 1, LLC Entity Address: 2630 Exposition Boulevard, Austin, Texas 78703 Sale Amount: $81,057.60 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $169,400.00 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) 53 5th Street/Block 1876/Lot 31/West Ward 55-57 5th Street/Block 1876/Lot 32/West Ward 914 Bergen Street/Block 3586/Lot 15/South Ward 910 Bergen Street/Block 3586/Lot 17/South Ward 904 Bergen Street/Block 3586/Lot 20/South Ward Additional Information: Total Price: Square Footage X PSF = 13,509.6 X $6.00 = $81,057.60. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of city-owned properties.