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17-0513
| 1 | 7R2-a(s) | SH Residences Amendment | Resolution | Dept/Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Loan
Purpose: A Resolution authorizing certain modifications to the forms of Note, Mortgage and Security Agreement and Affordable Housing Agreement to be executed by the City of Newark, New Jersey, and SH Residences, LP, the Redeveloper, for the construction of the Residences at Symphony Hall Project consisting of sixty (60) affordable residential units, forty-five (45) parking spaces, a community room, a leasing/management office, laundry facilities, and a social services suite
Entity Name: SH Residences, LP.
Entity Address: 5 Powell Lane, Collingswood, New Jersey 08108
Loan Amount: $950,000.00
Funding Source: Federal HOME Program
Loan Term: Date of execution through April 30, 2047
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
395-4 | Pass |
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