Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: First amendment to Affordable Housing Agreement
authorized by Resolution #: 7R3-n (as) 031809
Purpose: Clarifying the relationship between the entities by amending entity name, correcting address, various items in the agreement including insurance, hold harmless provisions, increase HOME funds and extend contract completion date
Entity Name: Fairmount Heights Development Company, LLC
Entity Address: 550 Broad Street, Suite 810, Newark, NJ 07102
Additional Grant Amount: $223,900.00
Total Grant Amount: $703,900.00
Funding Source: United States Department of Housing and Urban Development (HUD)/Home Funding Program
Contract Period: Extended through October 19, 2011
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: (if applicable)
(Address/Block/Lot/Ward)
115 1/2 South 9th Street/1827/66/West
129 South 10th Street/1826/11/West
193 South 10th Street/1814/9/West
326 1/2 South 11th Street/1796/38/West
250 South 10th Street/1797/59/West
Additional Information: N/A
Invitation: Economic & Housing Development Director, September 7, 2011