Dept./ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Need for Housing Project Purpose: Second Amendment to Resolution 7R2-d(AS) adopted on April 21, 2021, revising the site location referenced within the Resolution and on the Sponsor’s application with New Jersey Housing and Mortgage Finance Agency Low Income Housing Tax Credit Program for funding for the Project known as Essex Plaza Two and Three. Entity Name: Essex Plaza Owner Two, LLC Entity Address: c/o Fairstead, 250 West 55th Street, 35th Floor, New York, New York 10019 Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit) Total Project Cost: $51,557,269.00 City Contribution: $0.00 Other Funding Source/Amount: Low Income Housing Tax Credits -$19,635,000.00; NJHMFA First Mortgage, Note - $30,078,000.00; and Deferred Developer Fee - $1,015,069.00 List of Properties: (Address/Block/Lot/Ward) 76 Orchard Street/Block 885/Lot 41/Central Ward 74 Orchard Street/Block 885/Lot 42/Central Ward 72 Orchard Street/Block 885/Lot 43/Central Ward 11 Pennington Street/Block 893/Lot 2/East Ward 13 Pennington Street/Block 893/Lot 3/East Ward 15-17 Pennington Street/Block 893/Lot 4/East Ward 19-31 Pennington Street/Block 893/Lot 6/East Ward 1082 Broad Street/Block 893/Lot 34/East Ward 1080- Broad Street/Block 893/Lot 36/East Ward 1080 Broad Street/Block 893/Lot 37/East Ward 1078- Broad Street/Block 893/Lot 38/East Ward 146-152 Orchard Street/Block 894/Lots 1 and 4/East Ward 81 Lincoln Park/Block 2826/Lot 24/East Ward 83 Lincoln Park/Block 2826/Lot 25/East Ward Additional Information: Original Resolution 7R2-d(AS) adopted on April 21, 2021, authorized the Municipal Council’s determination that the proposed Project meets an existing housing need within the City of Newark, pursuant to the provisions of the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended (N.J.S.A. 55:14K-1, et seq.), the rules promulgated thereunder at N.J.A.C. 5:80-1 et seq., and all applicable guidelines. Resolution 7R2-l adopted on August 4, 2021, amended the Original Resolution by revising the site locations referenced within the Resolution. The Second Amendment will amend the First Amendment by revising the site location referenced the First Amendment Resolution and on the Sponsor’s application with New Jersey Housing and Mortgage Finance Agency Low Income Housing Tax Credit Program for funding for the Project known as Essex Plaza Two and Three.