Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct a mixed-use residential and commercial store front building and a residential multi-family home. Entity Name: Ridgeview Properties, LLC Entity Address: 1 Orient Way, Suite F #240, Rutherford, New Jersey 07070 Sale Amount: $72,996.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $188,500.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months following the 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) 566-570 Springfield Avenue/Block 316/Lot 20/South Ward 369-379 18th Avenue/Block 2609/Lot 1-12/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 12,166 X $6.00 = $72,996.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.