Dept./ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Need for Housing Project Purpose: To determine whether the proposed Project will meet or 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 to enable the Agency to process the Sponsor's application for funding the Project through the Low Income Housing Tax Credit Program and to offer support for State economic incentives. Entity Name: 930 McCarter Urban Renewal, LLC Entity Address: 120 Albany Street, Suite 800, New Brunswick, New Jersey 08901 Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit) and New Jersey Aspire Program. Total Project Cost: $141,900,000.00 City Contribution: $8,000,000.00 Other Funding Source/Amount: To be determined List of Properties: (Address/Block/Lot/Ward) 930 McCarter Highway/Block 1/Lot 46.02 /Central Ward Additional Information: