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 Beacon Development Partners, LLC to amend the Project Scope Entity Name: Beacon Development Partners, LLC Entity Address: 275-277 16th Avenue, C2, Newark, New Jersey 07103 Sale Amount: $142,717.26 Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $291,700.00 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) 375-377 South 20th Street/Block 1789/Lot 11/West Ward 16-18 Ferdinand Street/Block 1789/Lot 49/West Ward 8-14 Ferdinand Street/Block 1789/Lot 51/West Ward 376 Grove Street/Block 1789/Lot 55/West Ward Additional Information: Resolution 7R2-e, adopted on May 4, 2022, authorized the Private Sale/Redevelopment pursuant to the Agreement for the Sale and Redevelopment of Land. The Developer received ownership of 16-18 Ferdinand Street, 8-14 Ferdinand Street and 376 Grove Street via QuitClaim Deed on May 13, 2024. This Resolution authorizes a First Amendment to the Agreement for the Sale and Redevelopment of Land to amend the Project Scope.