Title
Dept./ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Resolution of Support
Purpose: To provide Municipal Council support for the submission of an application by Developer to the New Jersey Department of Community Affairs, Affordable Housing Trust Fund-Municipal Settlement Fund
Entity Name: TMA General Contracting, Limited Liability Company
Entity Address: 17 Academy Street, Suite 301, Newark, New Jersey 07102
Grant Amount: $0.00
Total Project Cost: $972,087.00
City Contribution: $0.00
Other Funding Source/Amount:
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
43 Jacob Street/Block 303/Lot 1/Central Ward
Additional Information:
body
WHEREAS, TMA General Contracting, Limited Liability Company, 17 Academy Street, Suite 301, Newark, New Jersey 07102 ("Entity"), proposes to develop a 3 unit residential structure of 100% affordable housing, consisting of two, 3-bedroom, 2-bathroom apartments; and one, 2-bedroom, 1-bathroom unit, designated as a Healthy Home for a homeless family, which will serve households at 60% and 47% Area Median Income ("AMI") and will include in-unit laundry and parking, located at 43 Jacob Street, Newark, New Jersey, Block 303, Lot 1 ("Project"); and
WHEREAS, in connection with the financing for the Project, the Entity is applying to the New Jersey Department of Community Affairs, Municipal Settlement 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 New Jersey Department of Community Affairs must meet the requirement...
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