Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop the properties into three (3) three-family homes. Entity Name: Adams Construction and D.C., LLC Entity Address: 121 Brighton Avenue, East Orange, New Jersey 07017 Sale Amount: $41,610.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $89,100.00 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) 463 South 18th Street/Block 322/Lot 66/West Ward 631 South 20th Street/Block 353/Lot 11/West Ward 635 South 20th Street/Block 353/Lot 25/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 6,935 X $6.00 = $41,610.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.