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 81-93 Orange Street Urban Renewal, LLC, the Developer, under the NJ Aspire Tax Credit Program to the New Jersey Economic Development Authority Entity Name: 81-93 Orange Street Urban Renewal, LLC Entity Address: Pasadena, Maryland 21122 Grant Amount: $60,000,000.00 - Tax Credit Amount Total Project Cost: $185,902,712.00 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 81-93 Orange Street/Block 31/Lot 27/Central Ward Additional Information: