Dept./ Agency: Economic and Housing Development Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Resolution of Support Purpose: To provide 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: New Community Homes Development, LP Entity Address: 233 West Market Street, Newark, New Jersey 07103 Grant Amount: $0.00 Total Project Cost: $69,821,728.00 City Contribution: $0.00 Other Funding Source/Amount: Traditional debt financing and equity funding Grant Period: Ten (10) Years - Tax Credit Period, from the 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 202 South Orange Avenue/Block 242/Lot 1/Central Ward Additional Information: The submission of an application for tax credits and support of the Municipal Council of same for New Community Homes Development, LP will be ratified from the date of submission of Developer’s application for the Funds to the date of adoption of this authorizing Resolution.