Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying ( X ) Authorizing ( X ) Amending Type of Service: Private Sale/Redevelopment Purpose: A Resolution authorizing the modification of the definition of “Developer Fee,” the extension of time for completion of the Project and the execution of a Second Amendment to Redevelopment Agreement with Bergen Street Redevelopment Urban Renewal, LLC. Entity Name: Bergen Street Redevelopment Urban Renewal, LLC Entity Address: 953 Bergen Street, Newark, New Jersey 07112 Sale Amount: $70,988.20 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other : Assessed Amount: $896,400.00 Appraisal Amount: $0.00 Contract Period: Extend the time for completion of construction of the Project to Apri 30, 2022 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (if applicable) (Address/Block/Lot/Ward) 1037-1047 Bergen Street/Block 3661/Lot 3, 5 and 8/South 1057-1059 Bergen Street/Block 3660/Lot 11/South Additional Information: