92-26 First Amendment to Redevelopment Agreement - Revised 3.3.26.pdf

1 4932-5755-6367, v. 1 92-26 FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT THIS AGREEMENT, entered into this 24th day of February, 2026 (hereinafter referred to as the “First Amendment”) between the Township of West Orange, a public body corporate (which together with any successor public body or officer hereinafter designated by or pursuant to law is hereinafter referred to as the “Township”), having its offices at 66 Main Street, West Orange, New Jersey 07052, and 18 Central Avenue Urban Renewal LLC, with offices located at One Parker Plaza, Fort Lee, New Jersey 07024 (hereinafter referred to as “18 Central” or the “Redeveloper”) (collectively the “Parties”). WITNESSETH: WHEREAS, the Township Council of the Township of West Orange (the “Township Council”) adopted Resolution 228-16 on October 26, 2016 pursuant to the provisions of the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. (the “Redevelopment Law”), designating the properties identified as Block 9, Lots 11.01, 11.02, 11.03, 32, & 36 and Block 7, Lot 22 on the official tax maps of the Township, as an area in need of redevelopment (the “Redevelopment Area”); and WHEREAS, pursuant to N.J.S.A. 40A:12A-7, the Township Council, in accordance with the applicable provisions and requirements of the Redevelopment Law, passed Ordinance 2499- 16 adopting a Redevelopment Plan for the Redevelopment Area (as may be amended and supplemented from time to time, the “Redevelopment Plan”); and WHEREAS, on March 7, 2017, the Township Council adopted Resolution 74-17 which authorized the designation of The Alpert Group, LLC as the interim redeveloper of the