Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate properties to create affordable housing for low-income families. Entity Name: Top Rated Buyer, LLP Entity Address: Rahway, New Jersey 07065 Sale Amount: $63,990.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $50,100.00 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) 290 South 20th Street/Block 1794/Lot 66/West Ward 57 Montgomery Avenue/Block 2641/Lot 10/South Ward 39 Hecker Street/Block 2848/Lot 23/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 6,399.0 X $10.00 = $63,990.00. 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-e 090822