26-0896

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Purpose: First Amendment to Agreement for the Sale and Redevelopment of Land to Creative Development Real Estate, LLC, to change the Project Description for 861-865 South 12th Street. Entity Name: Creative Development Real Estate, LLC Entity Address: 732 Bergen Street, Newark, New Jersey 07108 Sale Amount: $54,750.00 Cost Basis: (X) $6.00PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $81,300.00 Appraised Amount: N/A 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) 732 Bergen Street/Block 2707/Lot 50/South Ward 861-865 South 12th Street/Block 3008/Lot 65/South Ward Additional Information: Resolution 7R2-a adopted on September 2, 2020, 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 Scope of Project for 861-865 South 12th Street. The Certificate of Completion has been issued for 732 Bergen Street as that project has been completed.

Resolution Adopted Introduced June 9, 2026

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