Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Resolution of Need for Housing Project Purpose: To support NJHMFA Low Income Housing Tax Credit Application for funding a project known as New Community Estates through the Low Income Housing Tax Credit Program. Entity Name: New Community Estates Urban Renewal Associates, L.P. Entity Address: 233 W. Market Street, Newark, New Jersey 07103 Funding Source: NJ Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit) Total Project Cost: $5,125,573.00 City Contribution: N/A Other Funding Source/Amount: /$ N/A List of Properties: (Address/Block/Lot/Ward) 106-116 14th Avenue/276/1.02/Central Ward; 274-316 Fairmount Avenue/276/1.01/Central Ward Additional Information: This is a rehabilitation project of fifty-six (56) units at two (2) properties that are rent restricted for moderate income households.