Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Affordable Housing Agreement for HOME Funds Purpose: To authorize the execution of a Deed Restrictive HOME Affordable Housing Agreement. Entity Name: Thomas Street Urban Renewal, LLC Entity Address: 300 Wilson Avenue, Newark, New Jersey 07105 Grant Amount: $2,200,000.00 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) 184-194 Thomas Street/Block 1164, Lot 11/East Ward Additional Information: To construct a new five-story residential affordable housing building that will consist of (52) senior age-restricted affordable residential rental units, (11) shall be designated by the City as HOME Program deed-restricted affordable housing units for use and occupancy by extremely low-income senior citizens and elderly persons and households earning 30% or less of Area Median Income (AMI), for property located at 184-194 Thomas Street (East Ward).