Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Grant Agreement Purpose: Amendment to Affordable Housing Agreement authorized by Resolution 7R3-d adopted July 7, 2016 Entity Name: Bergen Street Redevelopment Urban Renewal, LLC Entity Address: 953 Bergen Street, Newark, New Jersey 07112 Grant Amount: $1,300,000.00 Funding Source: Federal HUD HOME Funds Contract Period: Agreement shall be for a period of Thirty (30) years from the date of adoption of this authorizing resolution by the Newark Municipal Council. HOME program funds must be expended within 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: (if applicable) (Address/Block/Lot/Ward) 1037-1047 Bergen Street/ Block 3661/ Lot 3, 5 and 8/ South Ward 1057-1059 Bergen Street/Block 3660/ Lot 1/South Ward and Additional Information: To grant financial assistance for a project consisting of two (2) mixed-use buildings along Bergen Street: Building A - five (5) stories, thirty-two (32) residential units, over commercial space, and fourteen (14) parking spaces, and Building B - consisting of four (4) stories, ten (10) residential units, and a community center on the ground floor located at 1037-1047 Bergen Street and 1057-1059 Bergen Street, Newark New Jersey and identified on the official tax map of the City as Block 3661, Lot 3, 5 and 8, and Block 3660, Lot 11.