Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct five (5) two-family houses for sale. Entity Name: SVM Properties, LLC Entity Address: 2360 Hamburg Turnpike, Wayne, New Jersey 07470 Sale Amount: $75,135.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $221,900.00 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) 307 South 6th Street/Block 279/Lot 17/Central Ward 23 Hudson Street/Block 2849/Lot 16/Central Ward 465 Hawthorne Avenue/Block 3044.02/Lot 54/South Ward 234 Leslie Street/Block 3064/Lot 54/South Ward 61 Lindsley Avenue/Block 4072/Lot 2/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 12,522.50 X $6.00 = $75,135.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.