Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Amending Resolution # 7R3-l (as) 040109, Support Resolution
Purpose: Change project name, amend the unit break down by decreasing the number of emerging market units from 11 to 8 and increasing the number of moderate income units from 10 to 13
Original Project Name: Lincoln Park Condominiums
New Project Name: Lincoln Park Condominiums and Townhomes Project
Entity Name: Lincoln Park Redevelopment, LLC
Entity Address: 450 Washington Street, Newark NJ 07102
Grant Amount: $1,925,000.00 (or an amount not to exceed the maximum amount allowed in accordance with the CHOICE subsidy)
Funding Source: Choices in Home Ownership Incentives Created for Everyone ("CHOICE")
Total Project Cost: $1,925,000.00
City Contribution: No municipal funds required
Other Funding Source/Amount: N/A
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:
Address/Block/Lot/Ward
462-466 Washington Street/Block 116/Lot 62.01/C
478-480 Washington Street/Block 116/Lot 55/C
21 Lincoln Park/Block 118/Lot 34/C
Additional Information: N/A
Invitation: Director of Economic and Housing Development, September 14, 2010