Title
Dept./ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Grant Agreement
Purpose: To grant financial assistance for the build out of a two-phase social impact and community development project providing supportive social services to individuals and families affected by HIV/AIDS through its Service Providing Partner, AIDS Resource Foundation for Children, Inc. ("ARFC"); Phase I shall consist of a fifty-six (56) unit all-affordable (80% or less of area median household income and supportive housing) and workforce housing development with a commercial space dedicated for a daycare center for residents and local community residents in a newly constructed mixed-use five (5) story building with ground level parking and Phase II shall consist of a forty-two (42) unit affordable residential building, to be built on the real property located at 701-703 South 10th Street, 705 South 10th Street, 707 South 10th Street, 709-711 South 10th Street, 713 South 10th Street, 715-717 South 10th Street, 719 South 10th Street and 721 South 10th Street, Newark, New Jersey 07108, as part of the Kent/Brenner/Springfield Redevelopment Plan.
Entity Name: 10th and 11th Street Homes, LLC
Entity Address: 369 Raymond Boulevard, Newark, New Jersey 07105
Grant Amount: $400,000.00
Funding Source: Community and Economic Development Dedicated Trust Fund
Total Project Cost: $13,773,963.00
City Contribution: $400,000.00
Other Funding Source/Amount: $0.00
Grant Period: Commencing upon full execution of the Grant Agreement and expiring within twenty-four (24) months of the commencement date of construction
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X) Grant ( ) Sub-recipient ( ) n/a
List of Property: (if applicable)
(Address/Block/Lot/Ward)
701-703 South 10th Street/Blo...
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