Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Redevelopment Agreement Purpose: To authorizing the execution of a Settlement Agreement with 50-58 Jersey Street, LLC. Entity Name: 50-58 Jersey Street, LLC Entity Address: 28 Clinton Street, Newark, New Jersey 07102 Contract Amount: Not Applicable Development Agreement Term: Not Applicable City Contribution to Development Project: ( ) Grant or Loan ( ) Guarantee (X) None ( ) Other Developer Investment: Not Applicable Developer Third-Party Financing: Not Applicable Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property: (Address/Block/Lot/Ward) 937-941 Raymond Boulevard/Block 170/Lot 1/East Ward 50-58 Jersey Street/Block 170/Lots 20/East Ward Additional Information:

Resolution Adopted Introduced August 15, 2024

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