Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Private Sale/Redevelopment
Purpose: First Amendment to Agreement for the Sale and Redevelopment of Land to to Ali Muslim to amend the Entity Name
Entity Name: 302-304 West Runyon Newark, LLC
Entity Address: 308 West Runyon Street, Newark, New Jersey 07108-0710
Sale Amount: $80,000.00
Cost Basis: (X) $16.00PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $34,400.00
Appraised Amount: N/A
Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by the City
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)
302-304 West Runyon Street/Block 3036/Lot 34/Additional Lot 35/South Ward
Additional Information:
Resolution 7R2-d adopted on February 18, 2026, authorized the Private Sale/Redevelopment pursuant to the Agreement for the Sale and Redevelopment of Land.
This Resolution authorizes a First Amendment to the Agreement for the Sale and Redevelopment of Land to amend the Entity Name.
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WHEREAS, on February 18, 2026 the Newark Municipal Council adopted Resolution 7R2-d (the “Original Resolution”), which authorized the Mayor and/or his designee and the Deputy Mayor/Director of the Department of Economic and Housing Development to enter into and execute an Agreement for the Sale and Redevelopment of Land (“Agreement”), for the sale of the following City-owned properties (the “Properties”) to Ali Muslim, 308 West Runyon Street, Newark, New Jersey 07108 (“Redeveloper”), pursuant to the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq., located within the South Ward, no longer needed for public use, in accordance with the Third Amendment to the South Ward Redevelopment Plan, adopted by Ordinance 6S&Fd(S) on August 17, 2005, as amended, which governs the redevelopment of City-owned property located in the South Ward, in the amount of Eighty Thousand Dollars and Zero Cents ($80,000.00), for the new construction of two (2) two-family homes: one (1) will be sold at 80% AMI and one (1) will be sold at market rate (“Scope of Project”):
ADDRESS WARD BLOCK LOT
302-304 West Runyon Street South 3036 34 and 35
WHEREAS, pursuant to the Original Resolution, the Agreement with the Redeveloper, attached hereto as Exhibit C, was executed on or about June 17, 2026; and
WHEREAS, while the Redeveloper has actively worked towards completing the construction of the 302-304 West Runyon Street, pursuant to the Agreement, Redeveloper has incurred challenges including finance-related issues; and
WHEREAS, the Redeveloper wishes to amend the Entity Name from Ali Muslim to 302-304 West Runyon Newark, LLC (“Amended Entity Name”), attached hereto as Exhibit B; and
WHEREAS, the Deputy Mayor/Director of the Department of Economic Housing and Development has reviewed and approved the Amended Entity Name and recommends that the Newark Municipal Council authorize the execution of the First Amendment to the Agreement for the Sale and Redevelopment of Land with the Redeveloper for the Amended Entity Name (“Amended Agreement”); and
WHEREAS, the City and Redeveloper desire to amend the Original Resolution, to amend the Entity Name and enter into the First Amendment to the Agreement for the Sale and Redevelopment of Land (“Amended Agreement”) in order to memorialize the terms and conditions of the sale and redevelopment of the Properties, in a form substantially consistent to the Amended Agreement, attached hereto as Exhibit A.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. Resolution 7R2-d, adopted on February 18, 2026 (“Original Resolution”) by the Newark Municipal Council and the Agreement for the Sale and Redevelopment of Land (“Original Agreement”) are hereby amended to change the following:
• The Entity Name is amended from Ali Muslim to 302-304 West Runyon Newark, LLC (“Amended Entity Name”).
2. The Mayor and/or his designee, and the Deputy Mayor/Director of the Department of Economic and Housing Development, are hereby authorized to enter into and execute the First Amendment to the Agreement for the Sale and Redevelopment of Land (“Amended Agreement”), in the form attached here to as Exhibit A, with 302-304 West Runyon Newark, LLC, 308 West Runyon Street, Newark, New Jersey 07108-0710 (the “Redeveloper), for the private sale and rehabilitation of the following Property, for the following Purchase Price, in accordance with the requirements of N.J.S.A. 40A:12A-8(g), the terms and conditions of the attached Amended Agreement and the South Ward Redevelopment Plan, as amended, to amend the Scope of Project (“Amended Agreement”):
ADDRESS WARD BLOCK LOT
302-304 West Runyon Street South 3036 34 and 35
3. All other terms and conditions of the Original Resolution and the Original Agreement shall remain in full force and effect.
4. The Deputy Mayor/Director of the Department of Economic and Housing Development is hereby authorized to effectuate certain business terms and conditions related to the Amended Agreement and may enter into any related documents, which may be necessary in order to effectuate the Amended Agreement.
5. The executed Amended Agreement shall be placed on file in the Office of the City Clerk by the Deputy Mayor/Director of the Department of Economic and Housing Development.
6. The Deputy Mayor/Director of the Department of Economic and Housing Development is authorized to enter into a maximum of two (2) six (6) month extensions of any timeframe set forth in the Amended Agreement, subject to full written disclosure of such extension(s) (in the form of a signed Memorandum to be submitted to the Office of the City Clerk prior to adoption) to the Municipal Council of the City of Newark by the Deputy Mayor/Director of the Department of Economic and Housing Development and the approval of the City of Newark’s Corporation Counsel.
7. The Redeveloper shall have thirty (30) days from the date this Resolution is certified by the Office of the City Clerk to execute the attached Amended Agreement and return same to the Department of Economic Housing Development. Should the Redeveloper fail to execute and return the attached Amended Agreement within this thirty (30) day time period, the authorization provided by this Resolution shall be null and void, unless the Deputy Mayor/Director of the Department of Economic and Housing Development agrees in writing to extend this thirty (30) day period.
STATEMENT
This Resolution authorizes the Mayor and/or his designee, and the Deputy Mayor/Director of the Department of Economic and Housing Development, on behalf of the City of Newark, to enter into a First Amendment to the Agreement for the Sale and Redevelopment of Land with 302-304 West Runyon Newark, LLC, 308 West Runyon Street, Newark, New Jersey 07108-0710 (“First Amendment”), to amend the Entity Name.