Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the existing structures to create affordable rental or for-sale housing one (1) two (2) family home and two (2) one (1) family homes. Entity Name: Xclusive Investments 1, LLC Entity Address: 118 N Maple Avenue, East Orange, New Jersey 07017 Sale Amount: $64,675.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $297,000.00 Appraised Amount: $0.00 Contract Period: To be commenced within three (3) months and be completed within twelve (12) months from the transfer of 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) 466 Avon Avenue/Block 2644/Lot 4/South Ward 493- Avon Avenue/Block 2639/Lot 22/South Ward 499 Avon Avenue/Block 2639/Lot 25/South Ward Additional Information: Sale Price (Total Square Footage X Price PSF) = 6,467.5 X $10.00 = $64,675.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.