Dept./ Agency: Economic and Housing Development Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Resolution of Support Purpose: To provider Municipal Council support, for the submission of an application, for tax credits sought by Developer, under the NJ Aspire Tax Credit Program to the New Jersey Economic Development Authority Entity Name: Pacific Apartments Ventures, LLC Entity Address: c/o Millbrook Realty Group, LLC, 546 Fifth Avenue, 6th Floor, New York, New York 10036 Total Project Cost: $35,471,007.00 City Contribution: $0.00 Other Funding Source/Amount: Traditional debt financing and equity funding Grant Period: Ten (10) years - Tax Credit Period, from project completion date 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 164-184 Pennington Street/Block 932/Lot 1/East Ward Additional Information: