Dept/ Agency: Economic and Housing Development Action: (X) 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 BVW Holdings, LLC, to correct the Entity Name, Purchase Price, and Purpose of the Sale within the Resolution and Redevelopment Agreement. Entity Name: BVW Holdings, LLC Entity Address: Newark, New Jersey 07112 Sale Amount: $2,611.20 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $44,800.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of property ownership from the City to the Redeveloper 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) 548 15th Avenue/Block 330/Lot 50/West Ward Additional Information: The Municipal Council adopted Resolution 7R2-a on August 19, 2020, which authorized the Redevelopment Agreement with BVW Holdings, LLC.