Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Grant Agreement Purpose: To grant financial assistance for a project consisting of seventeen (17) residential units located within the South Ward Redevelopment Plan and identified on the Official Tax Map of the City as Block 3004, Lot 30. Entity Name: Essex Property Management Group, LLC. Entity Address: 59 East Runyon Street, Newark, New Jersey 07114 Grant Amount: $150,000.00 Funding Source: Redevelopment Community Trust Account Total Project Cost: $1,334,140.00 City Contribution: $150,000.00 Other Funding Source/Amount: $0.00 Contract Period: The term of this Agreement shall be for a period of two (2) years from the execution of 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 (Address/Block/Lot/Ward) 611-613 Clinton Avenue/Block 3004/Lot 30/South Ward Additional Information: Resolution 7RCS(as) adopted on April 16, 1986 Resolution 7R3-d(as) adopted on August 5, 2015