Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop properties into a forty-eight (48) unit modern residential rental building and eight (8) units of affordable home ownership condominiums. Entity Name: ConleyMoor, LLC Entity Address: Belleville, New Jersey 07109 Sale Amount: $118,188.72 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $307,500.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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) 9-11 Peat Street/Block 288/Lot 45.02/Central Ward 67 Kent Street/Block 2616/Lot 16/South Ward 10 Brenner Street/Block 2616/Lot 31/South Ward 14 Brenner Street/Block 2616/Lot 33/South Ward 16-18 Brenner Street/Block 2616/Lot 34 and 35/South Ward 12 Brenner Street /Block 2616/Lot 41/South Ward Additional Information: Total Price: Square Footage X PSF = 19,698.12 X $6.00 = $118,188.72. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.