Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop the property into three (3) three-story units, including elevator accessibility and a parking garage. Entity Name: Level 6ix, LLC and Tritop Realty, LLC Entity Address: 226 Issac Court, Building 76, Perth Amboy, New Jersey 08861 Sale Amount: $81,855.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $29,500.00 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) 51-55 Cypress Street/Block 3079/Lot 61/South Ward Additional Information: Total Price: Square Footage X PSF = 8,185.50 X $10.00 = $81,855.00. 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 122122