Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Rehabilitate a 3-family home to provide affordable rental units. Entity Name: Sohhcorp LLC Entity Address: 19 Isaac Drive, Dayton, New Jersey 08810 Sale Amount: $39,375.00 Cost Basis: ( X ) $15.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $173,800.00 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) 575 Hunterdon Street/Block 2660/ Lot 21/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,625 X $15.00 = $39,375.00. 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-i 121824

Resolution Adopted Introduced July 25, 2024

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