Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a two-family home to be rented to Section 8 Housing Choice Voucher participants. Entity Name: Maiseo Enterprises LLC Entity Address: 11 Boyden Avenue, Maplewood, New Jersey 07040 Sale Amount: $36,000.00 Cost Basis: (X) $16.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $30,000.00 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) 657 South 10th Street/Block 2617/Lot 40/South Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,250 X $16.00 = $36,000.00. 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-d 031826 Deferred 7R2-b 040126

Resolution Adopted Introduced January 22, 2026

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