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.