Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To redevelop property to provide parking for tenants of adjacent property. Entity Name: 271 Hunterdon Street, LLC Entity Address: 24 W Railroad Avenue, #410, Tenafly, New Jersey 07670 Sale Amount: $10,000.00 Cost Basis: (X ) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $21,400.00 Appraised Amount: $0.00 Contract Period: Commence within three (3) months and be completed within twelve (12) months following the 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) 273 Hunterdon Street/Block 255/Lot 10/Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,500 X $4.00 = $10,000.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.