Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Affordable Housing Agreement Purpose: To provide HOME Program funds to subsidize the construction and pre-development costs of eleven (11) of the approximately seventy five (75) rental units to be constructed within the multi-family project known as 999 Broad Street-Phase II (the “Project”). The HOME assisted units will be affordable to low and very low income households Entity Name: Downtown Partners Urban Renewal Associates II, L.P. Entity Address: 77 Park Street, Montclair, New Jersey 07042 Grant Amount: $970,000.00 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 from the date of adoption from the Newark Municipal Council 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) 46-60 Nevada Street, Block 111, Lot 70.01 Additional Information: N/A