Title
Dept./ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Resolution of Support
Purpose: To provide for the submission of an application for tax credits sought by Developer under the NJ Aspire Tax Credit Program to the New Jersey Economic Development Authority.
Entity Name: South Ward Alliance, a NJ Non-profit Corporation
Entity Address: 59 Lincoln Park, Newark, New Jersey 07102
Grant Amount: $0.00
Total Project Cost: $46,000,000.00
City Contribution: $0.00
Other Funding Source/Amount: Traditional debt financing and equity funding
Grant Period:
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
479-481 Clinton Avenue/Block 2685/Lot 30/Additional Lot 31/South Ward
483 Clinton Avenue/Block 2685/Lot 32/South Ward
485 Clinton Avenue/Block 2685/Lot 33/South Ward
652 Bergen Street/Block 2685/Lot 34/South Ward
648-650 Bergen Street/Block 2685/Lot 35/South Ward
Additional Information:
body
WHEREAS, South Ward Alliance, A NJ Nonprofit Corporation ("Developer") proposes to construct a medical/office building, which will include prenatal through toddler health services, a full service federally subsidized health care center and a YMCA wellness center at the properties located at 479-481 Clinton Avenue, 483 Clinton Avenue, 485 Clinton Avenue, 652 Bergen Street and 648-650 Bergen Street, in the City of Newark, New Jersey ("Project") and commonly known as Block 2685, Lots 30, 31, 32, 33, 34 and 35 on the official tax map of the City of Newark; and
WHEREAS, the Project will assist in the preservation of medical care and promotes the advancement of greater welfare of existing residents of the City of Newark; and
WHEREAS, in connection with the ...
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