Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a 2-family home with market rate rentals and a 3 car port driveway. Entity Name: Wrighton Management LLC Entity Address: 165 Passaic Avenue, Fairfield, New Jersey 07004 Sale Amount: $92,068.30 Cost Basis: (X) $19.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $14,000.00 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) 921-923 South 20th Street/ Block 3016.01/ Lot 42/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 4,845.7 X $19.00 = $92,068.30. 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-d 071526 Deferred 7R2-c 080526