Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Execute Affordable Housing Agreement for SLFRF Funds Purpose: To authorize the execution of a Deed Restrictive SLFRF Affordable Housing Agreement to Bergen Street Redevelopment Urban Renewal LLC for the construction of two (2) mixed-use buildings with a total of forty-two (42) residential units, six (6) of which shall be SLFRF affordable housing units deed-restricted for use and occupancy by individuals or households having annual incomes less than sixty percent (60%) of the AMI. Entity Name: Bergen Street Redevelopment Urban Renewal LLC Entity Address: 953 Bergen Street, Newark, New Jersey 07112 Grant Amount: $1,534,126.83 Funding Source: Federal SLFRF Program Funds Contract Period: Date of adoption by the Municipal Council through the expiration of the twenty (20) year Affordability Period. 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) 1057-1059 Bergen Street/Block 3660/Lot 11/South Ward 1037-1047 Bergen Street/Block 3661/Lot 3/ Additional Lots 5 and 8 South Ward Additional Information: