Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a 3-family home to sell at market rate. Entity Name: 1519 Bower Street, Linden, New Jersey 07036 Entity Address: PAJ Industries LLC Sale Amount: $26,250.00 Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $21,700.00 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) 605 Hunterdon Street/ Block 2685/ Lot 8/ 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-b 041625

Resolution Adopted Introduced December 7, 2024

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