Title
Dept./ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Resolution of Support
Purpose: To provide 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.
Entity Name: The Unity 12th St Development Urban Renewal, LLC
Entity Address: 429 Chestnut Street, Roselle Park, New Jersey 07204
Grant Amount: $0.00
Total Project Cost: $222,840.41
City Contribution: $0.00
Other Funding Source/Amount: Not Applicable
Grant 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
(Address/Block/Lot/Ward
666-676 South 12th Street/Block 2618/Lot 56/South Ward
Additional Information:
body
WHEREAS, The Unity 12th St Development Urban Renewal LLC, 429 Chestnut Street, Roselle Park, New Jersey 07204 ("Entity") proposes to develop a 4 story, 24-unit residential structure, of which all units will be 100% affordable, located at 666-676 South 12th Street, Newark, New Jersey, Block 2618, Lot 56 ("Project"); and
WHEREAS, in connection with the financing for the Project, the Entity is applying to the New Jersey Department of Community Affairs Neighborhood Partnership Fund ("NJ Department of Community Affairs"), to obtain funds in an amount not to exceed the maximum amount allowed in accordance with N.J.A.C. 5:43-1.1 et seq.; and
WHEREAS, all entities applying for funds from the NJ Department of Community Affairs must met the requirements of the Neighborhood Preservation Balanced Housing Rules, N.J.A.C. 5:43-1.1 et seq., and will be subject to mortgage, other loan documents and deed restrictions; and
WHEREAS, pursuant to the New Jer...
Click here for full text