Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Affordable Housing Agreement HOME Funds Purpose: To provide HOME Program Funds to subsidize the construction and pre-development costs for Ten (10) of the approximately twenty-four (24) permanent support housing rental units to be constructed for the project known as A Better Life (the (“Project”). The HOME assisted units will be affordable to very low income households to serve the population of special needs homeless individuals. Entity Name: 101 14th Avenue Limited Liability Company Entity Address: 233 West Market Street, Newark, New Jersey 07103 Grant Amount: $956,592.00 Funding Source: HUD, HOME Funding Contract Period: The use of HOME funds provided under the Agreement shall be for a period of two (2) years and not to exceed four years, from the date of adoption of this resolution by the Newark Municipal Council Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 93-101 14th Avenue/Block 274/Lot 2/Central Ward Additional Information: Resolution 7R3B-030415 approved the Tax Abatement Application