Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelop the properties as affordable rental or for-sale housing Entity Name: Adams Construction and D.C., LLC Entity Address: 156 N. Livingston Avenue, Livingston, New Jersey 07039 Sale Amount: $49,300.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $520,100.00 Appraised Amount: $0.00 Contract Period: To be commenced 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) 451 S 17th Street/Block 321/Lot 30/West Ward 451 ½ S 17th Street/Block 321/Lot 31/West Ward 454 S 18th Street/Block 321/Lot 39/West Ward 458 ½ S 18th Street/Block 321/Lot 66/West Ward 459 S 18th Street/Block 322/Lot 35/West Ward 461 S 18th Street/Block 322/Lot 36/West Ward Additional Information: Total Square Footage = 12,325.0 X $4.00 = $49,300.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties