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’s Reverter Rights by entering into a First Amended Redevelopment Agreement and a Subordination Agreement in order to permit financing necessary for the redevelopment of three (3) two-family duplex style market rate homes. Entity Name: A Brick At A Time, LLC Entity Address: 490 East Kennedy Boulevard, Lakewood, New Jersey 08701 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) 174 Scheerer Avenue/Block 3665/Lot 41/South Ward 171-173 Shephard Avenue/Block 3665/Lot 72/South Ward 421-423 Clinton Place/Block 3717/Lot 51/South Ward Additional Information: Resolution 7R2-a adopted on July 22, 2020, authorized the Sale and Redevelopment Agreement.