Title
Dept/ Agency: Department of Economic & Housing Development
RATIFYING / AUTHORIZING / AMENDING
Type of Service: Second Amended Affordable Housing Agreement
1. Provide Don Pedro Development Corporation the balance of the Home Program Funds
2. Provide for the affordability and resale restriction to low and very low income homebuyers
three (3) one-family homes
eight (8) two-family homes
eleven (11) homes in total
3. Extend affordability period from 15 yrs. to 20 yrs.
Entity Name: Don Pedro Development Corporation
Address: 75 Park Avenue, Newark, NJ 07104
Total Contract Amount: $900,000.00
Balance of Contract Amount: $476,092.25
Original Contract Period: November 1, 2007 through October 31, 2008
Extend Contract Period: November 1, 2008 through October 31, 2010
Contract Basis: Bid__ Prof. Ser. __ EUS__
Fair & Open__ Non-Fair & Open__ RFP__ RFQ __
Affordable Housing Agreement X
Additional Comments: N/A
Deferred 7R3-a (s1)011309
Invitation: Director of Economic & Housing Development and Don Pedro Development Corp., January 21, 2009