Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct six (6) two (2) family residential homes for rent. Entity Name: Das 1 Holding, LLC Entity Address: 2165 Morris Avenue, Suite 2, Union, New Jersey 07083 Sale Amount: $101,400.00 Cost Basis: (X ) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $193,700.00 Appraised Amount: $0.00 Contract Period: To commence 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) 167 Johnson Avenue/Block 2700/Lot 16/South Ward 171 Johnson Avenue/Block 2700/Lot 18/South Ward 185 North 7th Street/Block 1917/Lot 51/Central Ward 316 7th Avenue W/Block 1911/Lot 2/Central Ward 155 Ridgewood Avenue/Block 2703/Lot 1/South Ward 161 Ridgewood Avenue/Block 2703/Lot 4/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 16,900 X $6.00 = $101,400.00 Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned properties.