...Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Affordable Housing Agreement for Roseville Manor Phase II Project
Purpose: The acquisition for three (3) family homes totaling nine (9) units to be rented to very low income households with special needs.
Entity Name: AIDS Resource Foundation for Children, Inc.
Entity Address: 77 Academy Street, Newark, NJ 07102
Grant Amount: $940,000.00 (In form of a mortgage note for a period of twenty (20) years)
Funding Source: United States Department of Housing and Urban Development (HUD)/Home Funding Program
Contract Period: The project shall be completed within twelve (12) months following the execution of Agreement.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X) Grant ( ) Sub-recipient ( ) n/a
List of Property:
Address/Block/Lot/Ward
641 Fourth Street/638/1.24/NW
652 Third Street/638/1.18/NW
643-645 Fourth Street/638/1.25/NW
Additional Information: N/A