Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct a mixed-use development consisting of ground floor commercial space and sixty-seven (67) units. Entity Name: Tritop Realty, LLC Entity Address: 85 Main Street, Suite 204, Hackensack, New Jersey 07601 Sale Amount: $140,400.00 Cost Basis: (X) $8.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $362,900.00 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) 16 North 6th Street/Block 1852/Lot 13/West Ward 437-443 West Market Street/Block 1852/Lot 16/West Ward 451-459 West Market Street/Block1852/Lot 24/West Ward Additional Information: Sale Price: Total Square Footage X PSF = 17,550 X $8.00 = $140,400.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Failed 7R2-f 102120