Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Need for Housing Project Purpose: To amend Resolution 7R2-c(AS) adopted on April 21, 2021, by revising the list of properties included in 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 One. Entity Name: Essex Plaza Owner One, 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: $130,054,096.00 City Contribution: $0.00 Other Funding Source/Amount: Low Income Housing Tax Credits- $43,775,000.00; HMFA First Mortgage, Note-$70,000,000.00, Note II-$13,592,000.00; and Deferred Developer Fee-$2,687,096.00 List of Properties: (Address/Block/Lot/Ward) 1056-1070 Broad Street/Block 892/Lot 1/East Ward 1048-1054 Broad Street/Block 892/Lot 16/East Ward Additional Information: Resolution 7R2-c(AS) adopted on April 21, 2021, authorized the Department of Economic and Housing Development’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.