Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of two (2) two-family homes, to be sold at an affordable rate of 50%-70% AMI. Entity Name: Brice Holdings LLC Entity Address: 18 Bruen Avenue, Irvington, New Jersey 07111 Sale Amount: $105,170.00 Cost Basis: (X) $13.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $62,900.00 Appraised Amount: n/a Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of property ownership from the City to the Redeveloper 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) 444-446 South 13th Street/Block 285/Lot 38/Central Ward 747-749 South 14th Street/Block 2634/Lot 14/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 8,090 X $13.00 = $105,170.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-n 090926