Dept./ Agency: Economic and Housing Development Action: (X) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment/Subordination Agreement/Reverter Purpose: An Agreement to subordinate the City’s rights of reverter by entering into a Subordination of Right of Reverter, Estoppel Certificate and First Amendment to Agreement for the Sale and Redevelopment of Land in order to permit construction financing necessary for the redevelopment of an affordable rental housing project. Entity Name: Rubix International, LLC Entity Address: 24 Commerce Street, Suite 1420, Newark, New Jersey 07102 Sale Amount: $0.00 Cost Basis: ( ) $ PSF ( ) Negotiated (X) N/A ( ) Other: Assessed Amount: $0.00 Appraised Amount: $0.00 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) 320-322 Hawthorne Avenue/Block 3612/Lot 4/South Ward Additional Information: Resolution 7R2-b(S) adopted on May 25, 2021, authorized the Private Sale/Redevelopment Agreement.