Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the properties as affordable rental housing. Entity Name: Mingo Investments, LLC Entity Address: 14 Nassau Place, East Orange, New Jersey 07040 Sale Amount: $51,210.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $330,500.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 163 N 9th Street/Block 1937/Lot 52/West Ward 87-89 N Munn Avenue/Block 4213/Lot 1/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 8,535 X $6.00 = $51,210.00. 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-b (s) 081721