Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop property as parking for an adjacent home. Entity Name: Custer Ave Lot 186, LLC Entity Address: 683 Kearny Avenue, Suite 1, Kearny, New Jersey 07032 Sale Amount: $11,548.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $36,400.00 Appraised Amount: 0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) months following transfer of property ownership by the City 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) 186 Custer Avenue/Block 3604/Lot 61/South Ward Additional Information: Sale Price: Total Square Footage x PSF = 2,887 X $4.00 = $11,548.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.