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 and provide 2 market rate rental units. Entity Name: Eclat Way Limited Liability Company Entity Address: 222 Linwood Place, Hillside, New Jersey 07205 Sale Amount: $26,250.00 Cost Basis: ( X ) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $31,900.00 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) 749 South 20th Street/ Block 368/ Lot 19/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,625 X $10.00 = $26,250.00. 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-a 120424 Deferred 7R2-a 121824 Deferred 7R2-a 010825

Resolution Adopted Introduced August 2, 2024

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