Dept./ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Purpose: An Agreement to Subordinate the City of Newark’s Reverter Rights by entering into a First Amendment to the Agreement for Sale and Redevelopment of Land and a Subordination Agreement in order to permit the Redeveloper to obtain financing, necessary for the rehabilitation of property to build a three-family house for sale Entity Name: Wiosna, Limited Liability Company Entity Address: 65 Chapin Street, Unit 24, Pine Brook, New Jersey 07058 Sale Amount: $23,625.00 Cost Basis: ( ) $ PSF ( ) Negotiated (X) N/A ( ) Other: Assessed Amount: N/A Appraised Amount: N/A Contract Period: Not Applicable Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property: (Address/Block/Lot/Ward) 274 Chadwick Avenue/Block 2711/Lot 58/South Ward Additional Information: Resolution 7R2-a (s) adopted on March 10, 2020, designating Wiosna, Limited Liability Company as the Redeveloper and authorized the Agreement for the Sale and Redevelopment of Land