Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Purpose: Authorizing the First Amendment to the Agreement for the Sale and Redevelopment of Land with ABB Properties, LLC to amend the approved redevelopment obligations applicable to the Property, including the project description and occupancy and income restrictions governing the residential units. Entity Name: ABB Properties, LLC Entity Address:1416 Morris Avenue, Suite 209, Union, New Jersey 07083 Sale Amount: $48,400.00 Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other. Contract Period: Unchanged 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) 209-211 Clinton Place/Block 3046.01/Lot 18/South Ward Additional Information: Resolution 7R2-b adopted on March 6, 2024, authorized the Private Sale/Redevelopment pursuant to the Agreement for the Sale and Redevelopment of Land. This Resolution authorizes the First Amendment to the Agreement for the Sale and Redevelopment of Land to amend the approved redevelopment obligations, including the project description, occupancy and income restrictions applicable to the residential units, execution and recording of a deed restriction, and related enforcement provisions.