Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Resolution of Need for Housing Project
Purpose: To support NJHMFA Low Income Housing Tax Credit Application for funding projects known as "Center City Housing 3," (57 Units); "Pueblo City Housing," (80 Units); "Aspen Stratford," (75 Units); and "Johnson Apartments A," (72 Units) through the Low Income Housing Tax Credit Program.
Entity Name: NAP Housing Partners, LP
Entity Address: 1700 7th Avenue, Suite 2000, Seattle, Washington 98101
Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit)
Total Project Cost: $52,267,697.00
City Contribution: N/A
Other Funding Source/Amount:
List of Properties:
(Address/Block/Lot/Ward)
1. Center City Housing 3- 12 & 17-19 Pennsylvania Avenue; 11 Thomas Street; 37 Brunswick Street- Block 2826, Lot 28, Block 2824, Lot 40, Block 2826, Lot 40, Block 2820, Lot 16 (East Ward)
2. Pueblo City Housing- 20-22, 24-28, 30, 46-52, 68-70 Astor Street and 86 Brunswick Street-
Block 2803, Lot 1, Block 2808, Lot 14, Block 2808, Lot 21, Block 2811, Lot 1 (South Ward/East Ward)
3. Aspen Stratford - 2 and 18 Stratford Place- Block 2668, Lot 1, Block 2668, Lot 9
(South Ward)
4. Johnson Apartments A- 23, 25, 27A, 27B, 27C, 27D, 27E, 27F, 27G, 29A, 29B, 29C, 29D, 31A, 31B, 31C, 31D, 33A, 33B, 33C, 33D, and 33E Johnson Avenue and 64A, 64B, 66A, 66B, 68A, 68B, 70A, 70B, 72A, 72B Hillside Avenue- Block 2669, Lot 14, Block 2674, Lot 56, Block 2674, Lot 1 (South Ward)
Additional Information:
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WHEREAS, NAP Housing Partners, LP (NAP Housing Partners Urban Renewal, LP in formation), 1700 7th Avenue, Suite 2000, Seattle, Washington 98101 (hereinafter referred to as the "Sponsor") proposes to rehabilitate four (4) buildings containing approx...
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