Dept./Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Assignment and Assumption Agreement / Transfer of Affordable Housing Obligations Purpose: To authorize the execution of an Assignment and Assumption Agreement, Assignment of Mortgage, Acknowledgment of Affordability Requirements, and any related transfer documents in connection with the transfer of property located at 129-131 Seymour Avenue, Newark, New Jersey, and the assignment and assumption of certain Neighborhood Stabilization Program loan and affordability obligations associated therewith. Entity Name: Seymour Home, LLC Entity Address: 35 Planka Place, Spring Valley, New York 10977 Grant Amount: N/A Funding Source: N/A Total Project Cost: N/A City Contribution: Original Neighborhood Stabilization funding in the amount of $166,286.12 previously provided in connection with the Property Other Funding Source/Amount: N/A Grant Period: The affordability controls and restrictive covenants shall remain in effect through November 8, 2026, in accordance with the Deed of Easement and Restrictive Covenants recorded against the Property. Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property: (Address/Block/Lot/Ward) 129-131 Seymour Avenue/Block 3024/Lot 85/South Ward Additional Information: