Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To build four (4) two-family affordable homes. Entity Name: BABS Engineering, P.C. Entity Address: 930 Stuyvesant Avenue, Suite 16, Union, New Jersey 07083 Sale Amount: $74,380.14 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $178,800.00 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 Properties: (Address/Block/Lot/Ward) 49 Blum Street/Block 307.01/Lot 44/Central Ward 536-538 S. 10th Street/Block 307.01/Lot 48/Central Ward 544 S. 10th Street/Block 307.01/Lot 60/Central Ward 546 S. 10th Street/Block 307.01/Lot 61/Central Ward 548 S. 10th Street/Block 307.01/Lot 97/Central Ward Additional Information: Sale Price: Total Square Footage x PSF = 12,396.69 X $6.00 = $74,380.14. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.