Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop a twelve (12) unit passive housing apartment building. Entity Name: Community Development Group, LLC Entity Address: Newark, New Jersey 07107 Sale Amount: $49,806.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $127,700.00 Appraised Amount: $$0.00 Contract Period: To be commenced within three (3) months and be completed within eighteen (18) months following transfer of ownership from 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) 86 9th Avenue/Block 1860/Lot 6/West Ward 88 9th Avenue/Block 1860/Lot 5/West Ward 90-92 9th Avenue/Block 1860/Lot 3/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 8,301 X $6.00 = $49,806.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.