Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop property as a mixed-use development consisting of two (2) storefront commercial units and twelve (12) residential market rate units. Entity Name: A. Aleem Construction, Inc. Entity Address: 1629 Park Avenue, Suite 1B, New York, New York 10029 Sale Amount: $200,000.00 Cost Basis: () $40.00 PSF (X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $485,600.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) months from 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) 501-503 Central Avenue/Block 1854/Lot 24/West Ward Additional Information: Negotiated Sale Price: Total Square Footage X PSF = 5,000 X $40.00 = $200,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.