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 512-520 South 19th Street Associates, LLC to amend the Scope of the Project, Sale Price and Property Addresses Entity Name: 512-520 South 19th Street Associates, LLC Entity Address: 290 Ferry Street, New Jersey 07105 Sale Amount: $90,000.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $174,800.00 Appraised Amount: N/A 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) 522 South 19th Street/Block 336/Lot 1.01/West Ward 520 South 19th Street/Block 336/Lot 1.02/West Ward 518 South 19th Street/Block 336/Lot 1.03/West Ward 516 South 19th Street/Block 336/Lot 1.04/West Ward 514 South 19th Street/Block 336/Lot 1.05/West Ward 512 South 19th Street/Block 336/Lot 1.06/West Ward Additional Information: Resolution 7R2-h (s), adopted on August 19, 2021, 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, Sale Price, and correct the Property Addresses.

Resolution Adopted Introduced December 9, 2024

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