Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct a two-family residential home. Entity Name: Lilac Development Group, LLC Entity Address: 18-20 Bloomfield Avenue, Belleville, New Jersey 07109 Sale Amount: $52,500.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $24,900.00 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 (Address/Block/Lot/Ward) 798-800 Bergen Street/Block 2712/Lot 29 and 30/South Ward Additional Information: Total Sale Price: Total Square Footage = 5,250. X $10.00 = $52,500.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.