Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Redevelopment as mixed-use, affordable rental housing Entity Name: Carrino Plaza Apartments, LLC Entity Address: 1055 Saw Mill River Road, Suite 204, Ardsley, New York 10502 Sale Amount: $ 800,000.00 Cost Basis: ( ) $ PSF ( ) Negotiated ( X ) N/A ( ) Other: Assessed Amount: $ Appraised Amount: $ Contract Period: Term of City Loan Thirty (30) years Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 416-426 Broadway/ Block 613/Lot 1/North Ward Additional Information: Purchase money mortgage in amount of $720,000.00 is being provided to the Entity. Redevelopment Agreement includes a $720,000.00 purchase money mortgage with an interest rate of One (1) % per annum for a term of Thirty (30) years with a single balloon payment at end of term. No Action Taken 7R3-i 102313