Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Create parking for the anterior apartment building located at 446-450 Irvine Turner Boulevard Entity Name: Beacher Development, LLC. Entity Address: 395 Franklin Street, Bloomfield, New Jersey 07003 Sale Amount: $30,000.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $42,600.00 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) 140 Ridgewood Avenue/Block 2693/Lot 37/South Ward 142 Ridgewood Avenue/Block 2693/Lot 36/South Ward Additional Information: Total Square Footage - 5,000 X $6.00 = $30,000.00