Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To convey City-owned property to facilitate development of affordable housing. Entity Name: Kawaida Towers, L.P. Entity Address: 909 Third Avenue, 21st Floor, New York, New York 10022 Sale Amount: $23,847.68 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( X ) Other: Appraised amount Assessed Amount: $2,276,400.00 Appraised Amount: $1,180,000.00 Contract Period: Construction to commence within six (6) months of obtaining governmental approval and be completed within eighteen (18) months of commencement. 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) 17-21 Halsey Street/Block 20/Lot 1/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 5961.92 X $4.00 = $23,847.68 Sale at prices set forth by Ordinance 6S&FH, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.