Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a residential two (2) family building and a residential multi-family development for rent. Entity Name: Creative Development Real Estate, LLC Entity Address: 1203 River Road, Apt. 9H, Edgewater, New Jersey 07020 Sale Amount: $54,750.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $ $81,300.00 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 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) 732 Bergen Street/Block 2707/Lot 50/South Ward 861-865 South 12th Street/Block 3008/Lot 65/South Ward Additional Information: Sale Price: Total Square Footage X Price PSF = 9,125 X $6.00 = $54,750.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.