Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate the property as affordable rental or for-sale housing Entity Name: Montes Property Group, LLC Entity Address: 811 Clinton Avenue, Newark, New Jersey 07108-0710 Sale Amount: $40,000.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $177,500.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twelve (12) 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) 41 Brookdale Avenue/Block 4065/Lot 73/West Ward 103 Brookdale Avenue/Block 4064/Lot 69/West Ward 156-158 Brookdale Avenue/Block 4070/Lot 9/West Ward Additional Information: Total Square Footage = 10,000.0 X $4.00 = $40,000.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties.