Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Execute an Affordable Housing Agreement for HOME Funds Purpose: To authorize the execution of a Deed Restrictive Affordable Housing Agreement with Hamlett Management, LLC, a New Jersey Limited Liability Company, the Redeveloper, for the new construction of two (2) multi-family residential homes consisting of two (2) owner-occupied units and three (3) rental units for a total of five (5) HOME subsidized units for property located at 601 15th Avenue, Newark, New Jersey 07103 and 510 South 17th Street, Newark, New Jersey 07103 (Block 334, Lots 32 and 35). Entity Name: Hamlett Management, LLC Entity Address: 454 Morris Avenue, Springfield, New Jersey 07081 Grant Amount: $269,900.00 Funding Source: Federal HOME Program Funds Total Project Cost: $821,716.00 (approximately) Contract Period: Funds must be expended within forty-eight (48) months from the date of adoption Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale (X) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 601 15th Avenue, Newark, New Jersey/Block 334/Lot 32 (West Ward) 510 South 17th Street, Newark, New Jersey/Block 334/Lot 35 (West Ward) Additional Information: No Action Taken 7R2-k (s) 081721