Dept/ Agency: Economic and Housing Development Action: () Ratifying (X) Authorizing () Amending Type of Service: Private Sale/Redevelopment Purpose: To consolidate with the existing adjacent lot for the expansion of auto sales operations Entity Name: C.Y. & R.D. Real Estate, LLC Entity Address: 18 Glenwood Road, East Hanover, New Jersey, 07936 Sale Amount: $240,000.00 Cost Basis: ( ) $ PSF(X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $147,400.00 Appraised Amount: $ 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) 835 Broadway/Block 822/Lot 18/ North Ward 837 Broadway/Block 822/Lot 19/ North Ward 839 Broadway/Block 822/Lot 20/ North Ward Additional Information: Sale Price: Negotiated = $240,000.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.