Title
Dept/Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Third amendment to Affordable Housing Agreement to provide HOME Funds
Purpose: Amend the affordability period to thirty (30) years to coincide with the terms of a recently filed tax abatement, and establish a declaration of covenants, conditions, and restrictions
Entity Name: Lincoln Park LIHTC, LLC
Entity Address: 725 Cuthbert Boulevard, Cherry Hill, NJ 08002
Grant Amount: $540,000.00 ($34,011.76 expended)
Funding Source: HUD, HOME Funding
Contract Period: Completion date extended from December 31, 2010 to December 30, 2011
Contract Basis: ( ) Bid ( ) Prof Ser. ( ) EUS ( ) Fair & Open ( ) Non-Fair & Open ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant (X) Sub-Recipient ( ) N/A
Additional Information:
Affordable Housing Agreement Resolution #7R3-a 031908
First Amendment Resolution #7R3-k 040109
Second Amendment Resolution #7R3-c(s) 112409
7R3-a 031909
Dept./ Agency: Department of Economic and Housing Development
Ratifying ( ) Authorizing (v ) Amending ( )
Type of Service: Execute and Enter into Affordable Housing Agreement
Purpose: Construction of (8) units of housing affordable to very low and low income tenants
Entity Name(s): Lincoln Park Redevelopment, LLC
Address: 9-11 Crawford Street, Suite 3, Newark, New Jersey 07102
Contract Amount: Not to exceed $540,000.00
In form of a deferred loan mortgage for a twenty (20) year period
Contract Period: Commencing 120 days from the execution of Agreement and to be completed within 18 months.
Contract Basis: Affordable Housing Agreement
Additional Comments: N/A
7R3-k 040109
Dept/ Agency: Department of Economic & Housing Development
RATIFYING / AUTHORIZING / AMENDING
Type of Service: First Amendment to Affordable Housing Agreement with Lincoln Park Coast Cultural District, Inc.
Purpose: Project known as Lincoln Park LIHTC, to amend the project description t...
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