Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Need for Housing Project
Purpose: To determine whether the proposed Project will meet(s) an existing housing need within the City of Newark, pursuant to the provisions of the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended (N.J.S.A. 55:14K-1 et seq.), the rules promulgated thereunder at N.J.A.C. 5:80-1 et seq., and all applicable guidelines.
Entity Name: Crown Village Urban Renewal, Inc.
Entity Address: 27 Prince Street, Elizabeth, New Jersey 07208
Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit)
Total Project Cost: $284,898,450
City Contribution: $0.00
Other Funding Source/Amount: $0.00
List of Properties:
(Address/Block/Lot/Ward)
552 South Orange Avenue/Block 4001/Lot 1/West Ward
554-566 South Orange Avenue/Block 4001/Lot 2/West Ward
412 Grove Street/Lot 4001/Lot 19/West Ward
414 Grove Street/Lot 4001/Lot 20/West Ward
416 Grove Street/Lot 4001/Lot 21/West Ward
418 Grove Street/Lot 4001/Lot 32/West Ward
572-588 South Orange Avenue/Block 4002/Lot 1/West Ward
80-82 Whitney Street/Block 4002/Lot 18/West Ward
84 Whitney Street/Block 4002/Lot 19/West Ward
86-88 Whitney Street/Block 4002/Lot 20/West Ward
391-419 Grove Street/Block 4002/Lot 30/West Ward
Additional Information:
body
WHEREAS, Crown Village Urban Renewal, Inc. (hereinafter referred to as the "Sponsor") proposes to construct a mixed-use development on two (2) blocks containing (646) affordable housing units and commercial space between the Township of Irvington and the City of Newark, of which (331) units are located in the City of Newark, within a project known as Crown Village (hereinafter referred to as the "Project"), pursuant to the provisions of the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended (N.J.S.A. 55:14K-1 et seq.), the rul...
Click here for full text