Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Grant Agreement Purpose: To rehabilitate/construct a 4 1/2 story vacant structure with 23 residential units for very low income households for Veterans and Special Needs Entity Name: Fairmount S. 10th Street Apartments LLC Entity Address: 73 Washington Street, Suite 100, Bloomfield, New Jersey 07003-2414 Grant Amount: $1,000,000.00 Funding Source: City of Newark Redevelopment Area Bond (PSE&G Project Series 2018) Total Project Cost: $6,576,883.00 City Contribution: $1,000,000.00 Other Funding Source/Amount: NJHMFA, HUD McKinney-Vento, Essex County HOME/Developer Equity/$5,226,883.00 Contract Period: Shall commence on the date of execution and delivery of the Grant Agreement by the Entity and the City of Newark, and expire upon the City’s issuance of a Certificate of Completion for the project as provided in the Grant Agreement. 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: (if applicable) (Address/Block/Lot/Ward) 101 South 9th Street and 128-134 South 10th Street/Block 1827/Lots 12 and 70/West Ward Additional Information: