Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct an apartment building with twenty-one (21) residential units and two (2) commercial units. Entity Name: PGH & Associates, LLC Entity Address: 315 Keer Avenue, Newark, New Jersey 07112 Sale Amount: $47,250.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $165,000.00 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) 768 Bergen Street/Block 2707/Lot32/South Ward 770 Bergen Street/Block 2707/Lot 31/South Ward 772 Bergen Street/Block 2707/Lot 30/South Ward Additional Information: Sale Price: Total Square Footage x PSF = 7875.0 X $6.00 = $47,250.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Failed 7R2-h 102120