Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop properties into multi-family homes. Entity Name: Maureen Poncelet-Delsole Real Estate Corporation Entity Address: Paterson, New Jersey 07501 Sale Amount: $62,385.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $121,300.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) 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) 478 South 10th Street/Block 289/Lot 41/Central Ward 558-562 South 11th Street/Block 308/Lot 32/Central Ward 179 North 9th Street/Block 1937/Lot 60/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 10,397.50 X $6.00 = $62,385.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.