Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Affordable Housing Agreement to provide HOME And Affordable Housing Trust Program funds to Downtown Partners Urban Renewal Associates, LP. Purpose: Funds are provided to subsidize the construction and project related costs of five (5) units within the eighty-seven (87) unit five story, mixed-use, mixed-income, multi-family rental project. Five (5) of the eighty-eight (87) residential units are designated as permanent supportive housing for former homeless individuals and/or households with special needs. Entity Name: Downtown Partners Urban Renewal Associates, LP. Entity Address: 77 Park Street, Montclair, New Jersey 07042 Grant Amount: $1,334,366.00 Funding Source: HUD, HOME Funding/Affordable Housing Trust Fund Contract Period: Four (4) years from the date of execution of the Agreement. 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: (Address/Block/Lot/Ward) 999-1005 Broad Street/Block 111, Lot 70.02 Additional Information: 999 Broad Street Phase I Project