Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To develop four (4) two-family residential homes. Entity Name: Jarid Jamar Construction Company, Inc. Entity Address: 9 Weber Road, West Orange, New Jersey 07052 Sale Amount: $64,980.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $176,700.00 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) 474 S 16th Street/Block 328/Lot 38/West Ward 476 S 14th Street/Block 330/Lot 33/West Ward 286-288 S 11th Street/Block 1796/Lot 66/West Ward 111 S 9th Street/Block 1827/Lot 17/West Ward Additional Information: Total Purchase Price: Square Footage x PSF = 10,830. X $6.00 = $64,980.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.