Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To build ten (10) new two-family homes for first time homebuyers and affordable apartments for working families. Entity Name: Urban Day Development Corp. Entity Address: 235 Watchung Avenue, West Orange, New Jersey 07052 Sale Amount: $187,560.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $370,100.00 Appraised Amount: $ 0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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) 37 S 7th Street/Block 1829/Lot 10/West Ward 39 S 7th Street/Block 1829/Lot 11/West Ward 53 S 7th Street/Block 1829/Lot 18/West Ward 105 S 9th Street/Block 1827/Lot 14/West Ward 144 S 9th Street/Block 1828/Lot 36/West Ward 103 S 8th Street/Block 1828/Lot 28/West Ward 107 S 8th Street/Block 1828/Lot 30/West Ward 99-101 S 8th Street/Block 1828/Lot 26/West Ward 39 S 9th Street/Block 1856/Lot 9/West Ward 75-77 Norwood Avenue/Block 4066/Lot 55/West Ward Additional Information: Sale Price: Total Square Footage x PSF = 31,260 X $6.00 = $187,560.00 Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned properties.