Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a three (3) story, twelve (12) unit affordable apartment building. Entity Name: DS Real Estate Investors, LLC Entity Address: 59 William Street, East Orange, New Jersey 07017 Sale Amount: $155,610.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other Assessed Amount: $58,200.00 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) 112-118 N Munn Avenue/Block 4223/Lot 14/ West Ward 120-122 N Munn Avenue/Block 4223/Lot 1/West Ward 124 N Munn Avenue/Block 4223/Lot 8/West Ward Additional Information: Total Square Footage = 25,935 X $6.00 = $155,610.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.