Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop six (6) three-unit townhomes Entity Name: Metamorphosis Development Enterprise, LLC. Entity Address: 40 Clinton Street, Suite 300, Newark, New Jersey 07102 Sale Amount: $60,000.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $187,700.00 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) 361-363 S 8th Street/Block 281/Lot(s) 34,35/Central Ward 365 S 8th Street/Block 281/Lot 36/Central Ward 394 S 9th Street/ Block 281/Lot 3/Central Ward 396 S 9th Street/Block 281/Lot 2/Central Ward 398 S 9th Street/Block 281/Lot 1/Central Ward Additional Information: ADDRESS WARD BLOCK LOT SIZE SQ. FEET 361-363 S 8th Street Central 281 34,35 50X100 5,000 365 S 8th Street Central 281 36 25X100 2,500 394 S 9th Street Central 281 3 25X100 2,500 396 S 9th Street Central 281 2 25X100 2,500 398 S 9th Street Central 281 1 25X100 2,500 Total Square Footage: 15,000 Total Purchase Price: $60,000.00 ($4.00 per sf.); and Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.