Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop properties into an affordable mid-rise, multi-family residential building. Entity Name: Springview Development Group, LLC Entity Address: 1212 Springfield Avenue, Irvington, New Jersey 07111 Sale Amount: $258,266.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $629,200.00 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) 569 Springfield Avenue/Block 2618/Lot 1/South Ward 565-567 Springfield Avenue/Block 2618/Lot 3/South Ward 563 Springfield Avenue/Block 2618/Lot 5/South Ward 559-561 Springfield Avenue/Block 2618/Lot 7/South Ward 643 South 11th Street/Block 2618/Lot 12/South Ward 645 South 11th Street/Block 2618/Lot 13/South Ward 647 South 11th Street/Block 2618/Lot 14/South Ward 649 South 11th Street/Block 2618/Lot 15/South Ward 651 South 11th Street/Block 2618/Lot 16/South Ward 653 South 11th Street/Block 2618/Lot 17/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 25,826.60 X $10.00 = $258,266.00. 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-a (s) 092722