Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop two (2) duplex style, and one (1) two-family affordable or market rate, rental or for-sale homes Entity Name: New Age Investment Properties, LLC. Entity Address: 119 Holland Road, South Orange, New Jersey, 07079 Sale Amount: $30,000.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $65,700.00 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) 435-437 S 18th Street/Block 322/Lots 22, 23/West Ward 441 S 18th Street/Block 322/Lot 25/West Ward Additional Information: Total Square Footage = 7,500 X $4.00 = $30,000.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties. Assessment revised from property vital due to the structures having been demolished.