Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Purpose: Authorizing the execution of the First Amendment of the Agreement for the Sale of Land and Redevelopment of 140-166 Raymond Boulevard and related Access Agreement. Entity Name: 140 Raymond Urban Renewal LLC Entity Address: 494 Broad Street, Newark, New Jersey 07102 Sale Amount: $3,200,000.00, subject to certain credits as set forth in the Agreement Cost Basis: ( ) PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $0.00 Appraised Amount: $0.00 Contract Period: Construction shall commence no later than six (6) months from closing and completed within twenty-four (24) months from commencement of construction 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) 140-166 Raymond Boulevard /Block 5002/Lots 3, 5, 14, and 16/East Ward Additional Information: