Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construction of a new two-family home one unit will be rented to households earning up to 80% of the Area Median Income (AMI) and the other unit would be rented at market rate. Entity Name: Etta Investments Limited Liability Company Entity Address: 73-75 Woodbine Avenue Newark, New Jersey, 07106 Sale Amount: $31,825.00 Cost Basis: (X) $19.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $17,600.00 Appraised Amount: $0.00 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) 529 13th Avenue /Block 1793/Lot 23/ West Ward Additional Information: Sale Price: Total Square Footage X PSF = 1,675 X $19.00 = $31,825.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.