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 CO Enterprises, LLC, to change the Entity Name and amend the scope of the Project. Entity Name: Sheila Y Oliver Senior Housing Community, LLC Entity Address: 28 Valley Road Suite 1, Montclair, New Jersey 07042 Sale Amount: $185,580.00 Cost Basis: (X) $9.00PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $332,300.00 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) 117 Aldine Street/ Block 3051/ Lot 21/South Ward 119-121 Aldine Street/ Block 3051/Lot 22 and 23/South Ward 295 Lyons Avenue/ Block 3051/ Lot 24/South Ward 297-299 Lyons Avenue/ Block 3051/ Lot 25 and 26/South Ward 301Lyons Avenue/ Block 3051/ Lot 27/South Ward 303 Lyons Avenue/Block 3051/Lot 28/South Ward Additional Information: Resolution 7R2-c adopted on March 20, 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 and amend the scope of the Project.