Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Land Bank Purpose: To authorize Invest Newark, a New Jersey Non-profit Corporation, to acquire, maintain, and dispose of certain city-owned blighted, vacant and abandoned properties not needed for public use, pursuant to N.J.S.A. 40A:12A-74, et seq. Entity Name: Invest Newark, a New Jersey Non-profit Corporation Entity Address: 111 Mulberry Street, Newark, New Jersey 07102 Contract Amount: $0.00 Funding Source: 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) See attached “Schedule A”. Addition Information: Ordinance 6PSF-g adopted on October 16, 2019, established the Land Bank for the City of Newark. Ordinance 6PSF-a adopted on April 7, 2020, designated Invest Newark as the Land Bank Entity for the City of Newark and authorized the execution of the Land Bank Agreement with Invest Newark. Resolution 7R2-a adopted on October 19, 2022, authorized the first transfer of land to Invest Newark for the Land Bank. Deferred 7R2-a(s) 081324