Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a three-family dwelling, with each unit designated for occupancy by households earning no more than 80% of Area Median Income (AMI). Entity Name: Fajr Muhammad Bass Entity Address: 6 Andrew Street, Greenbrook, New Jersey, 08812 Sale Amount: $53,922.30 Cost Basis: (X) $17.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $11,500.00 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) 92 Seymour Avenue / Block 3000 / Lot 30/ South Ward Additional Information Sale Price: Total Square Footage X PSF = 3,171.9 X $17.00= $53,922.30 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned property