Dept/ Agency: Economic & Housing Development Action: ( X ) Ratifying (X) Authorizing (X) Amending Type of Service: Amendment/Assignment to Affordable Housing Agreement authorized by Resolution 7R3-E Adopted on August 1, 2012 Purpose: Assign and Amend the name of the project to be funded with HOME program funds, amend the address of the project, amend the duration of the Agreement to complete the project, and incorporate the applicable regulations promulgated under the HOME INVESTMENT PARTNERSHIPS PROGRAM 24 CFR Part 92, Final Rule, September 16, 1996, and as amended on July 24, 2013. Entity Name: Alpha Drive, LLC Entity Address: 581-583 Dr. Martin Luther King Jr. Blvd, Newark, New Jersey 07102 Grant Amount: $500,000.00 Funding Source: HOME Program Funds Contract Period: Amended to August 1, 2012 through December 1, 2015 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( x ) n/a List of Property: (if applicable) (Address/Block/Lot/Ward) 581 and 583 Dr. Martin Luther King Jr. Blvd/Block 2507/Lot(s) 55 & 56/Central Ward Additional Information: This resolution also is an assignment of the Affordable Housing Agreement between the City of Newark and High Street Heights, LLC to Alpha Drive, LLC , the new entity.