Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Development of a 15-Unit residential project with a mix of 2 and 3 bedroom loft-condominium units and 3 bedroom single family townhomes for sale as Workforce housing
Entity Name: Mid-Atlantic Investment Alliance, LLC
Entity Address: 11 Florence Place, West Orange, NJ 07052
Sale Amount: $224,521.89
Cost Basis: (X) $10.00 PSF ( ) Negotiated ( ) N/A ( ) Other: _________
Assessed Amount: $635,000.00
Appraised Amount: Information not provided
Contract Period: Three (3) months from date of adoption and completed within 18 months from transfer of ownership
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions (X) RFP ( ) RFQ
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
Address/Block/Lot/Ward
90-96 Clinton Ave/2826/3/ East
27 Brunswick St/2826/35/ East
29 Brunswick St./2826/36/East
31 Brunswick St./2826/37/East
33 Brunswick St./2826/38/ East
Additional Information: N/A
Invitation: Director of Economic and Housing Development, August 31, 2010