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 Beacon Development Partners, LLC to amend the Project Scope Entity Name: Beacon Development Partners, LLC Entity Address: 275-277 16th Avenue, C2, Newark, New Jersey 07103 Sale Amount: $142,717.26 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $291,700.00 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) 375-377 South 20th Street/Block 1789/Lot 11/West Ward 16-18 Ferdinand Street/Block 1789/Lot 49/West Ward 8-14 Ferdinand Street/Block 1789/Lot 51/West Ward 376 Grove Street/Block 1789/Lot 55/West Ward Additional Information: Resolution 7R2-e, adopted on May 4, 2022, authorized the Private Sale/Redevelopment pursuant to the Agreement for the Sale and Redevelopment of Land. The Developer received ownership of 16-18 Ferdinand Street, 8-14 Ferdinand Street and 376 Grove Street via QuitClaim Deed on May 13, 2024. This Resolution authorizes a First Amendment to the Agreement for the Sale and Redevelopment of Land to amend the Project Scope.

Resolution Adopted Introduced May 21, 2025

What this record is

Read automatically from the title of the official record. The source document below is authoritative.