Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop affordable and market rate, rental or for-sale homes Entity Name: Alpha Development and Investments, LLC. Entity Address: 972 Broad Street, Newark, New Jersey 07102 Sale Amount: $50,000.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $171,800.00 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) 511 S 14th Street/Block 332/Lot 16/West Ward 513 S 14th Street/Block 332/Lot 17/West Ward 515 S 14th Street/Block 332/Lot 18/West Ward 527 S 14th Street/Block 332/Lot 24/West Ward 529 S 14th Street/Block 332/Lot 25/West Ward Additional Information: Total Square Footage = 12,500 X $4.00 = $50,000.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties