Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Affordable Housing Agreement Loan Purpose: Amending the Note, Mortgage, Loan Agreement, Guaranty and Subordination Agreement between New Horizons Phase I Urban Renewal Associates, L.P. and the Newark Housing Authority by entering into an Omnibus Amendment Agreement to increase the Parties’ prior loan amount from $8,798,296.00 to $9,185,386.30. Entity Name: New Horizons Phase I Urban Renewal Associates, L.P. Entity Address: 3 East Stow Road, Suite 100, P.O. Box 994, Marlton, New Jersey 08053 Grant Amount: $0.00 Funding Source: N/A Contract Period: Date of adoption to remain in effect for the period of affordability of fifty (50) years and HOME program 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 ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 220-280 Irvine Turner Boulevard/Block 2580.1, Lot 2.04/Central Ward Additional Information: Resolution 7R3-h(as) adopted on May 22, 2013 Resolution 7R2-e(as) adopted on May 1, 2017 established a Deed Restrictive Affordable Housing Agreement between New Horizons Phase I Urban Renewal Associates, L.P.