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(s) 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: 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, 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 15-25 Camp Street/Block 892/Lot 24/East Ward 107 Orchard Street/Block 892/Lot 26/East Ward 109 Orchard Street/Block 892/Lot 27/East Ward 111 Orchard Street/Block 892/Lot 28/East Ward 113 Orchard Street/Block 892/Lot 29/East Ward 115 Orchard Street/Block 892/Lot 30/East Ward 117 Orchard Street/Block 892/Lot 31/East Ward 119-121 Orchard Street/Block 892/Lot 33/East Ward 123-125 Orchard Street/Block 892/Lot 35/East Ward 127 Orchard Street/Block 892/Lot 37/East Ward 129-131 Orchard Street/Block 892/Lots 39, 40 and 50/East Ward 22-30 Pennington Street/Block 892/Lot 43/East Ward 20 Pennington Street/Block 892/Lot 47/East Ward 18 Pennington Street/Block 892/Lot 48/East Ward 115 Orchard Street Rear/Block 892/Lot 53/East Ward Additional Information: