Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop properties into an eighteen (18) unit, residential building with commercial space and secured underground parking and a newly constructed two-family home. Entity Name: New Life Construction and Property Mgmt, LLC Entity Address: Bloomfield, New Jersey 07003 Sale Amount: $115,585.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $96,800.00 Appraised Amount: N/A Contract Period: To commence within three (3) months and be completed within twenty-four (24) months following transfer of properties 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) 794 South 19th Street/Block 2638/Lot 31/South Ward 147-149 Chadwick Avenue/Block 3019/Lot 72/South Ward 145 Chadwick Avenue/Block 3019/Lot 74/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 11,558.5 X $10.00 = $115,585.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.