Dept/ Agency: Economic & 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 a project known as Aspen Riverpark Apartments proposed by Aspen Riverpark Associates, LP, 1900 MacArthur Blvd, Suite 300, Irvine, CA 92612 for the rehabilitation of 258 rental units of affordable housing to be located on Block 2021, Lot 32 Entity Name: Aspen Riverpark Associates, LP Entity Address: 1900 MacArthur Blvd, Suite 300, Irvine, CA 92612 Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit) Total Project Cost: Approximately $47,788,041. City Contribution: N/A Other Funding Source/Amount: Projected: PNC-FHA 223(f) $21,740,035./ LIHTC $1,409,643./HMFA-Construction Bond Funds $22,000,000. List of Properties: (Address/Block/Lot/Ward) 44-58 Fleming Avenue/Block 2021/Lot 32/East Ward Additional Information: N/A