Title
Dept./ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Resolution of Support
Purpose: To provide support for the submission of an application for tax credits sought by the Redeveloper from the New Jersey Economic Development Authority, Brownfields Redevelopment Incentive Program.
Entity Name: International Federal of Chaplains, Inc. d/b/a International Federation of Chaplains, Inc.
Entity Address: 825-827 Clinton Avenue, Newark, New Jersey 07108
Total Project Cost: Not Applicable
City Contribution: $0.00
Other Funding Source/Amount:
Grant Period:
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
861-869 Clinton Avenue/Block 3016/Lot 25/South Ward
Additional Information:
body
WHEREAS, International Federal of Chaplains, Inc., d/b/a International Federation of Chaplains, Inc. (the “Developer”) proposes to develop a forty-four (44) unit affordable assisted living residence for senior citizens located at 861-869 Clinton Avenue, Block 3016, Lot 25 (the "Project"); and
WHEREAS, in connection with the financing of the Project, the Developer is applying to the New Jersey Economic Development Authority (“NJEDA”) for tax credits under Brownfields Redevelopment Incentive Program (“Funds”), which was authorized by the New Jersey Economic Recovery Act of 202 (Sections 54 through 67 of P.L. 2020, c. 156 and later amended by P.L. 2021, c. 160); and
WHEREAS, the Developer has presented to the Municipal Council a revenue projection, which sets forth the financing of the Project; and
WHEREAS, the Developer will be subject to NJEDA requirements and all documents executed between Developer and the Brownfields Redevelopment Incentive; and
WHEREAS, pursuant to NJEDA regulations, all applicants for funds under the Brownfields Redevelopment Incentive Program are required to obtain a Resolution of support from the Governing Body of the municipality; and
WHEREAS, pursuant to NJEDA regulations, the Municipal Council has determined that the Project, will meet all or part of the City of Newark's low and moderate housing obligation in its Housing Element and Fair Share Plan; and
WHEREAS, the Deputy Mayor/Director of the Department of Economic and Housing Development recommends that the Municipal Council support the Developer’s applications as it relates to the Funds.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Municipal Council supports the Project, development of forty-four (44) unit affordable assisted living residence for senior citizens located at 861-869 Clinton Avenue, Block 3016, Lot 25, in the City of Newark, New Jersey, as proposed by International Federal of Chaplains, Inc. d/b/a International Federation of Chaplains, Inc., 825-827 Clinton Avenue, Newark, New Jersey in its application, for tax credits under the Brownfields Redevelopment Incentive Program (“Funds”) to the New Jersey Economic Development Authority (“NJEDA”).
2. The submission of the application and support of the Municipal Council of the same is hereby ratified from the date of submission of Developer’s application for the Funds to the date of adoption of this Resolution.
3. The Municipal Council does hereby adopt the within Resolution and supports the application for Funds, pursuant to and in conformity with the NJEDA requirements for the Funds.
STATEMENT
Resolution, wherein the Municipal Council supports International Federal Chaplains, Inc. d/b/a International Federation of Chaplains, Inc., 825-827 Clinton Avenue, Newark, New Jersey 07108 application for tax credits under Brownfield Redevelopment Incentive Program being submitted by the Developer to the New Jersey Economic Development Authority (“NJEDA”) and ratifies the within from the date of Developer’s submission of the application to the date of adoption of this Resolution.