Dept/ Agency: Economic & Housing Development Action: (X ) Ratifying (X) Authorizing ( ) Amending Type of Service: Agreement with Sub-recipient Purpose: To provide NSP3 grant funds to subsidize the Project known as, the Lincoln Park Condominiums, which consists of the acquisition and/or rehabilitation of three (3) vacant and/or abandoned and/or foreclosed properties for the new construction of eighteen (18) affordable housing units, to be made affordable to individuals or families whose incomes do not exceed 120% of AMI Entity Name: Lincoln Park-CAPC Urban Renewal, LLC Entity Address: 59 Lincoln Park, Newark, New Jersey 07102 Grant Amount: Not to Exceed $380,000.00 Funding Source: U.S. Department of Housing and Urban Development Contract Period: November 1, 2012 through August 31, 2013 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale (X ) Grant ( X ) Sub-recipient ( ) n/a List of Property: (If applicable) (Address/Block/Lot/Ward) 462 Washington Street/Block 116/Lot 55/Central Ward 478 Washington Street/Block 116/Lot 62.01/Central Ward Additional Information: Funds applied for and accepted by Resolution 7R3-N(AS )021611