Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop new and rehabilitated affordable apartments and homes Entity Name: Hamlett Management, LLC. Entity Address: 454 Morris Avenue, Springfield, New Jersey 07081 Sale Amount: $54,760.00 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $755,500.00 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) 601 15th Avenue/Block 334/Lot 32/West Ward 603 15th Avenue/Block 334/Lot 33/West Ward 510 S 17th Street/Block 334/Lot 35/West Ward 275-277 16th Avenue/Block 334/Lot 1/West Ward 550-552 S 18th Street/Block 335/Lot 52/West Ward Additional Information: Total Square Footage = 13,690 X $4.00 = $54,760.00 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties