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 Genesis Capital Investments, LLC to change the Entity Name and Replace one of the Properties Entity Name: Genesis Capital 2, LLC Entity Address: 100 Charles Ewing Boulevard, Suite 16, Ewing, New Jersey 08628 Sale Amount: $61,794.00 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $84,400.00 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) 142 South 13th Street/Block 1859/Lot 41/West Ward 126 South 13th Street/Block 1859/Lot 49/West Ward 105 South 13th Street/Block 1860/Lot 9/ West Ward 40 Gladstone Avenue/Block 4003/Lot 32/West Ward Additional Information: Resolution 7R2-c, adopted on December 20, 2023, 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 and Replace one of the Properties.

Resolution Adopted Introduced September 22, 2025

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