Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Support Grant Application
Purpose: To provide Municipal Council support for the submission of an application, by the Developer to the New Jersey Department of Community Affairs Affordable Housing Trust Fund - Neighborhood Partnership Fund, for funding to develop eight (8) new two-family homes of affordable housing.
Entity Name: Urban League of Essex County Opportunity Corporation
Entity Address: 508 Central Avenue, Newark, New Jersey 07107
Grant Amount: $2,800,108.00
Funding Source: New Jersey Department of Community Affairs (NJDCA) Affordable Housing Trust Fund - Neighborhood Partnership Fund
Total Project Cost: $6,000,608.00
City Contribution: $0.00
Other Funding Source/Amount: NJDCA and NRTC Funds
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: (if applicable)
(Address/Block/Lot/Ward)
208-210 Fairmount Avenue/Block 262/Lot 10/Additional Lot 11/West Ward
172-178 Fairmount Avenue/Block 262/Lot 26/Additional Lots 27 and 28/West Ward
165 Camden Street/Block 262/Lot 44/West Ward
187 Fairmount Avenue/Block 263/Lot 41/West Ward
195 Fairmount Avenue/Block 263/Lot 45/West Ward
Additional Information:
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WHEREAS, the Urban League of Essex County Opportunity Corporation, 508 Central Avenue, Newark, New Jersey 07107 (the "Entity") proposes to construct eight (8) new two-family homes, for sale to income eligible homebuyers, to be known as The Heights on Fairmount Avenue Phase 2 located at 208-210 Fairmount Avenue (Block 262, Lot 10/11), 172-178 Fairmount Avenue (Block 262, Lot 26/27/28), 165 Camden Street (Block 262, Lot 44), 187 Fairmount Avenue (Block 263, Lot 41), and 195 Fairmount Ave...
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