https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=7979105&GUID=7D6838F3-82FA-4601-BF52-EAB716DB1CCBLegistar15https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=7979105&GUID=7D6838F3-82FA-4601-BF52-EAB716DB1CCB7D6838F3-82FA-4601-BF52-EAB716DB1CCB-2026-04-10-17-33-44Title: Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Loan Agreement / Promissory Note Pursuant to Section 108 Loan Guarantee Program Purpose: A resolution authorizing the execution and delivery of Loan Documents to effectuate a loan awarded under the United States Department of Housing and Urban Development (“HUD”) Section 108 Loan Guarantee Program for a Redevelopment Project to be undertaken by Alpha Alpha Lambda Community Development, Inc. Entity Name: Alpha Alpha Lambda Community Development, Inc. Entity Address: 8 Lombardy Street, #206, Newark, New Jersey 07102 Loan Amount: Not to exceed $2,500,000.00 Loan Term: Twenty (20) years Project Property Information: (Address/Block/Lot/Ward) 13 and 15 16th Avenue/Block 254/Lots33-34/South Ward 292 Hunterdon Street/Block254/Lot 40/Central Ward 294-296 Hunterdon Street/Block 254/Lots 38-39/South Ward Additional Information: This loan is funded with proceeds of a loan guaranteed by the United States Department of Housing and Urban Development under SectFri, 10 Apr 2026 17:33:44 GMT