Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the existing structure and construct two (2) two (2) family homes on the vacant land to create affordable rental or for-sale housing. Entity Name: A Brick At A Time, LLC Entity Address: 490 East Kennedy Boulevard, Lakewood, New Jersey 08701-0870 Sale Amount: $90,160.00 Cost Basis: (X) $6.00 - $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $138,600.00 Appraised Amount: $0.00 Contract Period: To be commenced within three (3) months and be completed within eighteen (18) months following the 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) 174 Scheerer Avenue/Block 3665/Lot 41/South Ward 171-173 Shephard Avenue/Block 3665/Lot 72/South Ward 421-423 Clinton Place/Block 3717/Lot 51/South Ward Additional Information: Vacant Land = 7,260 square feet X $6.00 = $43,560.00 Structure = 4,660 square feet X $10.00 = $46,600.00 Total Sale Price: $90,160.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.