Dept/Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Loan agreement Purpose: To authorize the execution of an Affordable Housing Agreement to SH Residences, LP for the construction of the Residences at Symphony Hall Project consisting of sixty (60) affordable residential units, fifty-five (55) parking spaces, a community room, a leasing/management office, laundry facilities, and a social services suite. Entity Name: SH Residences, LP Entity Address: 5 Powell Lane, Collingswood, New Jersey 08108 Loan Amount: $950,000.00 Funding Source: Federal HOME Funds Loan Term: December 13, 2016 through December 13, 2046_ Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a Additional Information: 395-407 Halsey Street/Block 116/Lot 30/Central Ward