Title
Dept/ Agency: Economic & Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Funding Agreements
Purpose: Acquisition and/or Rehabilitation of Foreclosed and/or Abandoned Properties.
Entity Name : Episcopal Community Development, Inc. - 33 units
Entity Address: 620 Clinton Avenue, Newark, NJ 07108
Grant Amount: $1,930,500.00
Entity Name: Unified Vailsburg Services Organization - 9 units
Entity Address: 40-42 Richelieu Terrace, Newark, NJ 07106
Grant Amount: $526,500.00
Entity Name: Make It Right, LLC - 40 units
Entity Address: 1055 Saint Charles Avenue, Suite 500, New Orleans, LA
Grant Amount: $3,185,000.00
Entity Name: Ironbound Community Corporation - 9 units
Entity Address: 179 Van Buren Street, Newark, NJ 07105
Grant Amount: $526,500.00
Entity Name: Community Loan Fund of NJ
Entity Address: 16-18 West Lafayette St., Trenton, NJ 08608
Grant Amount: $617,500.00 - this amount is a sub-set of other grants)
Entity Name: Don Pedro Development Corporation - 18 units
Entity Address: 75 Park Avenue, Newark, NJ 07104
Grant Amount: $1,053,000.00
Entity Name: Fairmount Heights Development Company - 26 units
Entity Address: 550 Broad Street, Unit 810, Newark, NJ 07102
Grant Amount: $1,521,000.00
Entity Name: Michaels Development Group - 29 units
Entity Address: 3 East Stow Road, Suite 100, Marlton, NJ 08053
Grant Amount: $1,885,000.00
Funding Source: U.S. Department of Housing and Urban Development
Total Project Cost: $11,245,000.00
City Contribution: 0
Other Funding Source/Amount: 0
Contract Period: February 11, 2010 through February 11, 2013
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X) Grant ( ) Sub-recipient (X) Consortium Members and Developers
List of Property:
(Address/Block/Lot/Ward)
TBD within targ...
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