Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop five (5) multi-family homes. Entity Name: Davidson Abraham & Associates, LLC and Mt. Hope Housing Company, Inc. Entity Address: 211 Warren Street, Newark, New Jersey 07103 and 2003-05 Walton Avenue, Bronx, New York 10453 Sale Amount: $95,829.30 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $130,500.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) 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) 565-567 Hunterdon Street/Block 2660/Lot 16/South Ward 577 Hunterdon Street/Block 2660/Lot 22/South Ward 579 Hunterdon Street/Block 2660/Lot 23/South Ward 581 Hunterdon Street/Block 2660/Lot 24/South Ward 601 Hunterdon Street/Block 2685/Lot 6/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 15,971.55 X $6.00 = $95,829.30. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.