Title
Dept./ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: First Amendment to the Agreement for the Sale and Redevelopment of Land
Purpose: An Agreement to subordinate the City's right of reverter by entering into an Amendment to the Agreement for Sale and Redevelopment of Land in order to permit financing necessary for the redevelopment of affordable rental or for-sale housing.
Entity Name: Southside View, LLC
Entity Address: 1212 Springfield Avenue, Irvington, New Jersey 07111
Sale Amount: Not Applicable
Cost Basis: ( ) $ PSF ( ) Negotiated (X) N/A ( ) Other:
Assessed Amount: N/A
Appraised Amount: N/A
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)
664 South 11th Street/Block 2617/Lot69/Additional Lot 70/South Ward
662 South 11th Street/Block 2617/Lot 71/Additional Lot 87/South Ward
660 South 11th Street/Block 2617/Lot 72/South Ward
658 South 11th Street/Block 2617/Lot 73/South Ward
656 South 11th Street/Block 2617/Lot 74/South Ward
654 South 11th Street/Block 2617/Lot 75/South Ward
668 South 11th Street/Block 2617/Lot 85/South Ward
666 South 11th Street/Block 2617/Lot 86/South Ward
South 11th Street/Block 2617/Lot 88/South Ward
Additional Information:
Resolution 7R2-b(AS) adopted on June 2, 2022, designated Southside View, LLC, as the redeveloper and authorized the private sale of the properties, pursuant to the Agreement for the Sale and Redevelopment of Land.
This Amendment to the Agreement for Sale and Redevelopment of Land will provide for the financing necessary for the redevelopment of affordable rental or for-sale housing.
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WHEREAS, pursuant to Resolution 7R2-b(as) adopted on June 2, 2022, the Mayor and t...
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