Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Develop property as a three-family rental or for-sale home Entity Name: Lilac Development Group, LLC Entity Address: 18-20 Bloomfield Avenue, Bloomfield, New Jersey 07109 Sale Amount: $19,777.60 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $34,200.00 Appraised Amount: $0.00 Contract Period: To be commenced within 3 months and be completed within 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) 57-59 Bryant Street/Block 764/Lot 40/North Ward Additional Information: Total Square Footage = 4,944.4 X $4.00 = $19,777.60 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned property.