Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop two (2)-and three (3)-family homes, affordable or market rate, rental or for-sale homes Entity Name: Rising Plains, LLC. Entity Address: 1515 Morris Place, Hillside, New Jersey 07205-1626 Sale Amount: $108,770.40 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $481,300.00 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) 414 S. 16th Street/Block 319/Lot 18/West Ward 414 S. 16th Street (Rear)/Block 319/Lot 52/West Ward 317 14th Avenue/Block 320/Lot 30/West Ward 582 15th Avenue/Block 328/Lot 27/West Ward 465 S. 16th Street/Block 327/Lot 35/West Ward 467 S. 16th Street/Block 327/Lot 36/West Ward 475-477 S. 16th Street/Block 327/Lot 15/West Ward 479-481 S. 16th Street/Block 327/Lot 17/West Ward 470 S. 16th Street/Block 328/Lot 40/West Ward 478 S. 16th Street/Block 328/Lot 36/West Ward Additional Information: Total Square Footage = 27,192.6 X $4.00 = $108,770.40 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties.