Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To combine the property with adjacent redeveloper-owned properties to construct a five (5) story, twenty (20) unit residential apartment building with parking. Entity Name: A.T.S. Development Group, LLC Entity Address: 27 Austin Street, Newark, New Jersey 07114 Sale Amount: $25,020.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $108,500.00 Appraised Amount: $0.00 Contract Period: To be commenced within three (3) months and be completed within twenty-four (24) months following transfer of property ownership by the City 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) 27 Chestnut Street/Block 891/Lot 19/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,502 X $10.00 = $25,020.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.