Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing () Amending Type of Service: Need for Housing Project Purpose: Resolution supporting the sponsor’s application for funding a project known as Montgomery Heights Phase II through the New Jersey Housing Mortgage Finance Agency Low Income Housing Tax Credit Program. Entity Name: Montgomery Two Housing Urban Renewal, LLC Entity Address: 1301 North 31st Street, Philadelphia, Pennsylvania 19121 Funding Source: New Jersey Housing Mortgage Finance Agency Program (Low Income Housing Tax Credit) Total Project Cost: $46,341,606.00 City Contribution: N/A Other Proposed Funding Source/Amount: NJHMFA Mortgage Note /$4,000,000.00 NHA Grant/ $6,200,000.00, NHA CFFP/$10,939,606.00, CDBG -DR/$5,000,000.00, LIHTC Equity/ $17,485,133.00 List of Properties: (Address/Block/Lot/Ward) 685-715 Dr. Martin Luther King, Jr. Boulevard/Block 2559/Lot 7/ Central Ward Additional Information: N/A