Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Conveyance of City-owned properties for the construction and sale of four (4) new two (2) family houses. Entity Name: LEF Developments, LLC Entity Address: 623 Eagle Rock Avenue, Suite 152, West Orange, New Jersey 07052 Sale Amount: $60,120.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $125,200.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) 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) 162 South 8th Street/Block 1811/Lot 41/West Ward 154 South 8th Street/Block 1811/Lot 45/West Ward 214 South 10th Street/Block 1813/Lot 46/West Ward 216 South 12th Street/Block 1815/Lot 54/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 10,020 X $6.00 = $60,120.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.