Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of five (5) 2-family homes to sell at market rate. Entity Name: Global Houz LLC Entity Address: 124 South Orange Avenue, South Orange, New Jersey 07079 Sale Amount: $147,702.24 Cost Basis: ( X ) $14.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $131,200.00 Appraised Amount: N/A Contract Period: To commence within three (3) months and be completed within twenty four (24) 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) 738 South 20th Street/ Block 367/Lot 58/ South Ward 736 South 20th Street/ Block 367/Lot 59/ South Ward 743-745 South 11th Street/ Block 2631/Lot 15, 16/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 10,550.16 X $14.00 = $147,702.24 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties

Resolution Adopted Introduced December 3, 2024

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