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 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. Entity Name: The Tower at Halsey and William Urban Renewal, LLC Entity Address: 645 Martinsville Road, Suite 204, Basking Ridge, New Jersey 07920 Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit) Total Project Cost: $150,434,129.00 City Contribution: $0.00 Other Funding Source/Amount: Investor Equity, Land Owner Equity, Sponsor Equity, LIHTC Equity, ASPIRE Credits, Redevelopment Area Bond, Debt List of Properties: (Address/Block/Lot/Ward) 16-24 William Street, Block 94, Lot 6, Central Ward 26-30 William Street, Block 94, Lot 3, Central Ward 32-34 William Street, Block 94, Lot 1, Central Ward Additional Information: