Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: (1)Execute Affordable Housing Agreement for HOME funds. Purpose: To authorize the execution of a HOME Affordable Housing Agreement with Springview Development Group LLC to develop and construct a new five-story 63-unit affordable and supportive housing development consisting of twelve (12) one-bedroom units, thirty five (35) two-bedroom units and sixteen (16) three-bedroom units (7 HOME subsidized) upon the property located at 559-569 Springfield Avenue and 643-653 South 11th Street (Block 2618; Lots 1, 3, 5, 7, 12, 13, 14, 15, 16 and 17) (South Ward) of the Tax Map of the City of Newark, County of Essex, State of New Jersey Entity Name: Springview Development Group LLC Entity Address: 1212 Springfield Avenue, Irvington, New Jersey 07111 Grant Amount: $750,000.00 Funding Source: Federal HOME Program Funds Contract Period: HOME Program Funds must be expended within forty-eight (48) months from the date of adoption. 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) 559-569 Springfield Avenue and 643-653 South 11th Street, Newark, New Jersey (Block 2618; Lots 1, 3, 5, 7, 12, 13, 14k, 15, 16 and 17) (South Ward) Additional Information: