Dept./ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Need for Housing Project Purpose: Provisions of the New Jersey Housing Mortgage Finance Agency Law to enable the Agency to process the sponsor’s application for funding a project known as Jelliff Senior Estate Apartments through the Low Income Housing Tax Credit Program Entity Name: Jelliff Senior Estates Urban Renewal, LLC Entity Address: 71 Lake Avenue, Colonia, New Jersey 07067 Funding Source: Redevelopment Economic Development Dedicated Trust Fund Total Project Cost: $12,960,574.00 City Contribution: $500,000.00 Other Funding Source/Amount: Low Income Housing Tax Credits/$5,168,146.00; Construction Loan/$6,470,242.00; Deferred Developer Fee/$500,000.00; Borrower Equity/$322,186.00 List of Properties: (Address/Block/Lot/Ward) 220-224 Jelliff Avenue, Block 2681, Lot 34; 226-230 Jelliff Avenue, Block 2681, Lots 31 and 32(South Ward) Additional Information: