Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Development of three (3) new two (2) and three (3) family homes. Entity Name: Teicher Group, LLC Entity Address: 15 Engle Street, Suite 104, Englewood, New Jersey 07631 Sale Amount: $63,000.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $193,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 123 Ridgewood Avenue/Block 2692/Lot 14/South Ward 125 Ridgewood Avenue/Block 2692/Lot 15/South Ward 133-135 Ridgewood Avenue/Block 2692/Lot 19 & 20/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 10,500 X $6.00 = $63,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.