Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Purpose: First Amendment to the Agreement for the Sale and Redevelopment of Land to Ascension Capital Partners I, LLC to, amend the scope of the Project Entity Name: Ascension Capital Partners I, LLC Entity Address: 59 Lincoln Park, Suite 200, Newark, New Jersey 07102 Sale Amount: $28,697.20 Cost Basis: () $PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $0.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by the City 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) 45-47 Astor Street/Block 2812/Lot 22/East Ward 43 Astor Street/Block 2812/Lot 23/East Ward 41 Astor Street/Block 2812/Lot 24/East Ward Additional Information: Resolution 7R2-b adopted on January 10, 2018, authorized the Private Sale/Redevelopment pursuant to the Agreement for the Sale and Redevelopment of Land. This Resolution authorizes a First Amendment to the Agreement for the Sale and Redevelopment of Land to amend the Scope of the Project. Deferred 7R2-b 120424

What this record is

Held by

Ascension Capital Partners I, LLC 3 records across this site

Amount

$29K

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

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Ascension Capital Partners I, LLC also holds

Dept./ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment/Subordi… $116K Newark, NJ Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Execute an Affordable Housing Agree… $625K Newark, NJ

Committee

Economic and Housing Development

Introduced

August 15, 2024

On agenda

December 4, 2024

Passed

December 18, 2024

Where it was heard

Municipal Council Dec 18, 2024 Adopt Pass Municipal Council Dec 4, 2024 Defer Pass

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