Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Amending Grant Agreement
Purpose: Amending NSP2 Funding Agreement with Community Loan Fund of New Jersey for the acquisition and rehabilitation of fourteen (14) vacant, abandoned and/or foreclosed units.
Entity Name: Community Loan Fund of New Jersey, 16-18 West Lafayette Street, Trenton, NJ 08608
Funding Source: United States Department of Housing and Urban Development (HUD)
Increasing Grant Amount: $910,000.00 + $344,500.00 = $1,254,500.00
New Total Project Cost: $7,438,240.00
City Contribution: No municipal funds required
Other Funding Source/Amount: N/A
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 ( ) n/a
Additional Information: $344,500.00 - this amount is a sub-set of other grants
Deferred 7R3-f 110711
Invitation: Director of Economic & Housing Development, November 22, 2011