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 to sell at market rate. Entity Name: Map Contracting Corp Entity Address: 92 Mountain Avenue, Cedar Knolls, New Jersey 07927 Sale Amount: $53,102.40 Cost Basis: (X) $13.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $36,700.00 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) 570 South 11th Street/ Block 313/ Lot 33/ Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 4,084.8 X $13.00 = $53,102.40. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned property Deferred 7R2-g 102225

Resolution Adopted Introduced April 4, 2025

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