Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelop three in-fill vacant lots into three (3) 2-family homes. Entity Name: GWB Development Group, LLC Entity Address: 7 Oak Place, Montclair, New Jersey 07042 Sale Amount: $50,800.00 Cost Basis: (X ) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $100,300.00. Appraised Amount: $N/A 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) 50-52 Tillinghast Street/Block 3029/Lot 3/South Ward 58 Tillinghast Street/Block 3037/Lot 31/South Ward 66-68 Tillinghast Street/Block 3037/Lot 36/South Ward Additional Information: Total Square Footage = 12,700.sq. ft. X $4.00 = $50,800.00