Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying ( x ) Authorizing ( x ) Amending Type of Service: Private Sale/Redevelopment Purpose: Authorize Execution of the Second Amendment of the Agreement for the Sale and Redevelopment of 140-166 Raymond Boulevard Entity Name: 140 Raymond Urban Renewal, LLC Entity Address: 494 Broad Street, Newark, New Jersey 07102 Sale Amount: $3,200,000.00 subject to certain credits as set forth in the Agreement Cost Basis: () PSF ( X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $0.00 Appraised Amount: $0.00 Contract Period: Construction shall commence no later than six (6) months from closing and completed within twenty-four (24) months from commencement of construction 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) 140-166 Raymond Boulevard /Block 5002/Lot 3/East Ward 140-156 Raymond Boulevard Rear/Block 5002/Lot 14/East Ward Additional Information:

Resolution Adopted Introduced May 21, 2025

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