Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To build two (2) 2-family homes for sale. Entity Name: Stone West Development, LLC Entity Address: 41-51 Wilson Avenue, Suite C2A, Newark, New Jersey 07105 Sale Amount: $32,959.56 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $67,200.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) 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) 412 South 11th Street/Block 266/Lot 22/West Ward 410 South 11th Street/Block 266/Lot 23/West Ward Additional Information: Sale Price: Total Square Footage x PSF = (2,859.08 X $6.00 = $17,154.48) + (2,634.18 X $6.00 = $15,805.08) = $32,959.56 Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned properties.