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17-0516
| 1 | 6PSFa(s) | South Ward Neighborhood URE LTTA Application | Ordinance | AN ORDINANCE GRANTING A THIRTY (30) YEAR TAX ABATEMENT TO SOUTH WARD NEIGHBORHOOD HOUSING URBAN RENEWAL, LP, C/O COMMUNITY ASSET PRESERVATION CORPORATION, 421 HALSEY STREET, NEWARK, NEW JERSEY 07102, FOR A PROJECT TO CONSTRUCT THIRTY-TWO (32) AFFORDABLE HOUSING UNITS PURSUANT TO THE LONG TERM TAX EXEMPTION LAW AND PARKING, LOCATED ON 14 ABANDONED PROPERTIES IN SOUTH WARD’S CLINTON HILL NEIGHBORHOOD CONSISTING OF 17-19 SEYMOUR AVENUE, BLOCK 2656, LOT 15; 14 HARDING TERRACE, BLOCK 3660, LOT 15; 105-107 ALDINE STREET, BLOCK 3051, LOT 14; 40 ROSE TERRACE, BLOCK 2625, LOT 52; 742-744 SOUTH 10TH STREET, BLOCK 2652, LOT 53; 24-26 BRAGAW AVENUE, BLOCK 3048.01, LOT 6; 89-91 BALDWIN AVENUE, BLOCK 3004, LOT 21; 170 SEYMOUR AVENUE, BLOCK 3020, LOT 39; 493 JELLIFF AVENUE, BLOCK 3576, LOT 9.06; 33 YATES AVE, BLOCK 3598, LOT 37; 20 TREACY AVENUE, BLOCK 2625, LOT 1; 864 SOUTH 14TH STREET, BLOCK 3009, LOT 19; 69-71 VAN NESS PLACE, BLOCK 3033, LOT 48; AND 230 SHERMAN AVENUE, BLOCK 2770, LOT 22. (SOUTH WARD) | |
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17-0492
| 1 | 7R2-a (s) | 650 Springfield Ave Urban Renewal LLC | Resolution | Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing () Amending
Type of Service: Need for Housing Project
Purpose: To determine whether the proposed Project will meet or meets an existing housing need within the City of Newark, New Jersey, pursuant to the provisions of the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended (N.J.S.A. 55:14K-1 et seq.), the rules promulgated thereunder at N.J.A.C. 5:80-1 et seq., and all applicable guidelines
Entity Name: 650 Springfield Ave Urban Renewal, LLC
Entity Address: 61 Deans Lane, Monmouth, New Jersey 08852
Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit)
Total Project Cost: $ 16,820,870.00
City Contribution: $500,000.00
Other Funding Source/Amount: Conventional Lender and Deferred Developer Fee/$4,135,345
List of Properties:
(Address/Block/Lot/Ward)
650-656 Springfield Avenue, 708 South 17th Street and 724-726 South 17th Street and 47-55 19th Avenue/ Block 364, Lots 1, 2, 21, 22, 24, 26, 27, 28 and 29 (South Ward) | |
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17-0463
| 1 | 7R2b(s/as) | Resolution: The Lantana Urban Renewal, L.P. | Resolution | Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: (1)Execute Affordable Housing Agreement for HOME funds and (2) Execute Grant Agreement for Community and Economic Development Dedicated Trust Fund
Purpose: To authorize the execution of an Affordable Housing Agreement and Grant Agreement to The Lantana Urban Renewal, L. P. for the construction of The Lantana Project consisting of a five-story building at 109-119 Broad Street and the rehabilitation of an existing structure at 130 North 11th Street. The Project will include seventy-six (76) residential units, eight (8) of which shall be HOME affordable housing units, on-site parking spaces, laundry facilities and a community room.
Entity Name: The Lantana Urban Renewal, L.P.
Entity Address: 77 Park Street, Montclair, New Jersey 07042
Grant Amount: $568,000.00 in Federal HOME Program Funds and $182,000.00 from the City of Newark Community and Economic Development Dedicated Trust Fund totaling $750,000.00
Funding Source: Federal HOME and Communit | |
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17-0465
| 1 | 7R2c(s/as) | Resolution: 650 Springfield Avenue Urban Renewal LLC | Resolution | Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: (1) Execute Affordable Housing Agreement for HOME funds; and (2) Execute Grant Agreement for Community and Economic Development Dedicated Trust Fund
Purpose: To authorize the execution of an Affordable Housing Agreement and Grant Agreement for the development of a four (4) story elevator structure that will include fifty-nine (59) units of which fifty-eight (58) are affordable housing units and one (1) unit is for a Resident Manager. The building will consist of six (6) one-bedrooms, thirty-seven (37) two-bedrooms and fifteen (15) three -bedrooms, and one (1) Resident Manager apartment and twenty-eight (28) parking spaces. Five (5) units will be set aside for the homeless.
Entity Name: 650 Springfield Ave Urban Renewal LLC
Entity Address: 61 Deans Lane, Monmouth Junction, New Jersey 08852
Grant Amount: $300,000.00 in Federal HOME Program funds and $200,000.00 from the City of Newark Community and Economic Development Dedicated Trust Fund
Fundin | |
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17-0532
| 1 | 7R2d(s/as) | Resolution: Community Asset Prevention Corporation | Resolution | Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To rehabilitate properties as affordable housing for very low-income families (30% AMI) living and attending school in the South Ward.
Entity Name: Community Asset Preservation Corporation
Entity Address: 421 Halsey Street, Newark, New Jersey 07102
Sale Amount: $29,862.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $320,600.00
Appraised Amount: $0.00
Contract Period: To be commenced within three (3) months and be completed within twelve (12) months from the transfer of ownership by the City.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
(X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
List of Property:
(Address/Block/Lot/Ward)
20 Treacy Avenue/Block 2625/Lot 1/South Ward
742-744 South 10th Street/B | |
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17-0805
| 1 | 7R2e(s/as) | Resolution of Need for CAPC Tax Abatement Application | Resolution | Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing () Amending
Type of Service: Need for Housing Project
Purpose: To determine whether the proposed Project known as the South Ward Neighborhood Housing Urban Renewal, LP will meet or meets an existing housing need within the City of Newark, New Jersey, pursuant to the provisions of the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended (N.J.S.A. 55:14K-1 et seq.), the rules promulgated thereunder at N.J.A.C. 5:80-1 et seq., and all applicable guidelines
Entity Name: South Ward Neighborhood Housing Urban Renewal LP
Entity Address: 421 Halsey Street, Newark, New Jersey 07102
Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit)
Total Project Cost: $8,963,684.00
City Contribution: None
Other Funding Source/Amount: Conventional construction loan and permanent loan financing. Fee/$8,963,684.00
List of Properties:
(Address/Block/Lot/Ward)
17-19 Seymour Avenue, Block 3660, Lot 15; 105-107 Aldine Street, Block | |
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17-0807
| 1 | 7R2f(s/as) | 20 - Day Waiver for CAPC Tax Abatement Ordinance | Resolution | Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Waiving 20 day period for an Ordinance to take effect
Purpose: Tax abatement for South Ward Neighborhood Housing Urban Renewal, LP, c/o Community Asset Preservation Corporation, of 421 Halsey Street, Newark, New Jersey 07102, needs to take immediate effect so that the Applicant can meet the HFMA application deadline of May 2, 2017.
Ordinance No(s).: 6PSF-a(S)050217 - This Ordinance grants a Long Term Tax Abatement to South Ward Neighborhood Housing Urban Renewal, LP, c/o Community Asset Preservation Corporation, of 421 Halsey Street, Newark, New Jersey 07102 under the Long Term Tax Exemption Law, N.J.S.A. 40A:20-1 et seq. for a thirty (30) year term for a Project to construct thirty (30) affordable housing units located on fourteen (14) abandoned properties in South Ward’s Clinton Hill Neighborhood consisting of 17-19 Seymour Avenue, Block 2656, Lot 15; 14 Harding Terrace, Block 3660, Lot 15; 105-107 Aldine Street, Block 3051, Lot 14; 40 Rose Terra | |
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