Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Grant Agreement Purpose: To grant financial assistance for a project consisting of two buildings along Bergen Street: Building A - 8 stories, 56 residential units, over commercial space, and fourteen (14) parking spaces, and Building B - consisting of four stories, 10 residential units, and a community center on the ground floor Entity Name: Bergen Street Redevelopment, LLC Entity Address: 953 Bergen Street, Newark, New Jersey 07112 Grant Amount: $1,900,000.00 Funding Source: Motor Vehicle Tax Revenue Bonds, Series 2015 Total Project Cost: $22,505,418.00 City Contribution: N/A Other Funding Source/Amount: N/A Contract Period: Start and end dates 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 and 1057-1059 Bergen Street, Newark New Jersey and identified on the official tax map of the City as Block 3660, Lots 3, 5 and 8, and Block 3661, Lot 11/South Ward. Additional Information: