25-1119

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 MB Development & Management, LLP, to change the Entity Name Entity Name: MB Development & Management, LLC Entity Address: 17 Academy Street, Suite 301, Newark, New Jersey 07102 Sale Amount: $50,000.00 Cost Basis: (X) $10.00PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $85,000.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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) 509 Avon Avenue/ Block 2640/Lot 29/South Ward 511 Avon Avenue/Block 2640/Lot 30/South Ward Additional Information: Resolution 7R2-c adopted on December 18, 2024, 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 change the Entity Name.

Resolution Adopted Introduced August 7, 2025

What this record is

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