Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop properties into one (1) one-family home, three (3) two-family homes and one (1) three-family home. Entity Name: Prime RRAM Homes, LLC Entity Address: 683 Kearny Avenue, Apt. 1, Kearny, New Jersey 07032 Sale Amount: $87,420.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $184,000.00 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) 120 Elizabeth Avenue/Block 2784/Lot 1/South Ward 129 Elizabeth Avenue/Block 2697/Lot 8/South Ward 31 Brookdale Avenue/Block 4065/Lot 78/West Ward 76 Van Ness Place/Block 3032/Lot 42/South Ward 147 Isabella Avenue/Block 4036/Lot 32/West Ward Additional Information: Total Price: Square Footage X PSF = 14,570 X $6.00 = $87,420.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. No Action Taken 7R2-g (s) 081721