Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Need for Housing Project
Purpose: To determine whether the proposed Project will meet(s) an existing housing need within the City of Newark, pursuant to the provisions of the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended (N.J.S.A. 55:14K-1 et seq.), the rules promulgated thereunder at N.J.A.C. 5:80-1 et seq., and all applicable guidelines.
Entity Name: Southside View, LLC
Entity Address: 1212 Springfield Avenue, Irvington, New Jersey 07111
Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit)
Total Project Cost: $15,158,671.00
City Contribution: To Be Determined
Other Funding Source/Amount: $0.00
List of Properties:
(Address/Block/Lot/Ward)
664 South 11th Street/Block 2617/Lot 69/Additional Lot 70/South Ward
662 South 11th Street/Block 2617/Lot 71/Additional Lot 87/South Ward
660 South 11th Street/Block 2617/Lot 72/South Ward
658 South 11th Street/Block 2617/ Lot 73/South Ward
656 South 11th Street/Block 2617/Lot 74/South Ward
654 South 11th Street/Block 2617/Lot 75/South Ward
668 South 11th Street/Block 2617/Lot 85/South Ward
666 South 11th Street/Block 2617/Lot 86/South Ward
South 11th Street (Vacant Lot)/Block 2617/Lot 88/South Ward
Additional Information:
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WHEREAS, Southside View LLC (hereinafter referred to as the "Sponsor") proposes to develop a new (40) unit affordable housing family development (hereinafter referred to as the "Project"), pursuant to the provisions of the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended (N.J.S.A 55:14K-1 et seq.), the rules promulgated thereunder at N.J.A.C. 5:80-1 et seq., and all applicable guidelines (the foregoing hereinafter collectively referred to as the "NJHMFA Requirements") within the City of Newark (hereinafter referred to as the "Municipality") on a site described Blo...
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